moving expenses cra

CRA ELIGIBLE MOVING EXPENSES,

We try to explain a brief about revenue Canada moving expenses deduction here, however, for more details, you can go to Government of Canad website, to find our more.

Most of the time, there are three questions regarding moving expenses cra simplified method. These similar questions are,

  • Am I eligible to claim my cost of moving for tax deduction?
  • Can I claim the fee I paid for relocation to reduce my income tax?
  • Can I claim my moving payment to Canada Revenue agency for tax return?

In some cases, Revenue Canada allows you to claim your moving fee for your tax deduction. However to see if you are eligible for claiming your moving fees, you need to answer the following questions.

  • ARE YOU MOVING TO BE A FULL-TIME STUDENT IN AN EDUCATIONAL INSTITUTION?

In fact, for more comprehensive explanation regarding who is eligible to be called a full time student, you can follow the link.

  • ARE YOU MOVING TO ESTABLISH A NEW HOME IN ORDER TO WORK OR RUN A BUSINESS?

Check if you are able to claim your relocation expenses as employed or self employed.

If your answers to the above questions is “YES”, AND, if the new place or address on legal documents is at least 40 kilometers closer to your work location or school, then you are ELIGIBLE. In order to calculate the distance, you need to mention “shortest normal route” available to public. Now, you can claim your moving invoice as it is a CRA eligible cost. Therefore, you can apply for tax return regarding moving expenses.

CLAIMING MOVING CHARGE WHEN RECEIVING FUND

In case of getting fund or grant from government or your employer, you must subtract the grant from the total. If you claim all the price including the fund or grant, you need to file the grant as employment income earned. In other words, you need to claim that part of the expenses that you pay. Also, you can find T1-M form or CRA moving expenses form in order to file your moving expenses. For more information about this post, please follow the link.

CONTACT US

If we have provided your relocation services and plan on filing the expenses, please contact us and we will send out your invoice in a very short time. To make the process faster, please make the following information ready when you call. We need your phone number, full name, your old and current address to find your file faster. Please also have your email address ready as well to receive your invoice.

MORE INFORMATION

If you are looking for more information, you can find here

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