Hamilton Tax tips for moving

Certain moving expenses are deductible when computing your income for the year. Depending on your tax bracket, you could reduce your taxes by up to half of your moving expenses.

You are eligible if:

  • You are moving to a new location to start a job or a business, or attend courses full-time at a post-secondary institution.
  • Your new home is a least 40-kilometres closer to your new place of work or school.
Expenses that are deductible:

  • Travelling expenses including vehicle expenses, meals and accommodation
  • Transportation and storage of personal effects
  • Cost of cancelling a lease at you previous residence
  • Up to 15 days of meals and accommodation near either residence if your moving dates do not coincide
  • Selling costs of your old residence including real estate commission
  • Legal fees on sale of previous residence and purchase of new residence
  • Mortgage penalty
  • Advertising
  • Legal fees and land transfer tax for purchase of new residence
  • Utilities disconnection/reconnection costs
  • Mortgage interest, insurance, property taxes and utilities associated with old residence while attempting to sell it, to a limit of $5,000 for maximum 3 month period
Expenses that are not deductible:

  • Loss on the sale of your previous home
  • Expenses for house-hunting trips before your move
  • Cost of work done to your former residence to make it more saleable
Other comments:

  • Deduction is limited to income earned at new location.
  • You can carry forward unclaimed moving expenses into the year following the move, to apply against that year's earnings
  • Deduction is reduced by any reimbursement received from employer.
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