Moving to a new home is a major life event — and in Canada, under specific conditions, you can claim moving expenses on your taxes. According to the Canada Revenue Agency (CRA), you are eligible if your new residence is at least 40 kilometers closer to your workplace, business, or place of study. However, if you work fully from home, you usually cannot claim moving costs. If you operate a home office as part of your remote work, some operating expenses might be deductible.
In this guide, we explain who qualifies, which moving expenses are reimbursable, which are not, and how to properly claim them when relocating with residential movers in Surrey.
To qualify for a tax deduction:
Relocations for reasons like better weather or a nicer neighborhood do not qualify unless they meet the work or study distance requirement.
When you move with residential movers in Surrey or elsewhere in Canada, many of your relocation costs are eligible for tax deductions. Here’s what you can claim:
Expenses such as:
These also cover furniture moving in Surrey and other related services.
You can deduct travel costs for you and your family, including:
Both residential movers and commercial movers in Surrey often assist with these relocations.
You can claim accommodation expenses for up to 15 days if you require temporary housing because of your move.
If you need to break a rental lease early due to the move, you can claim:
These include:
If your old home is vacant while being sold or rented out, you can claim up to $5,000 for:
Deductible costs when selling include:
You can claim:
Important: Always keep detailed receipts to make tax filing easier.
Before filing your moving expense claims, be aware that some costs cannot be deducted:
Renovations like:
Professional movers are prohibited from transporting:
Costs related to these items cannot be claimed.
If you pay for:
The cost of forwarding mail after your move is not deductible.
Travel expenses incurred while visiting potential homes or schools are not claimable.
If you sell your home at a loss, you cannot deduct the financial loss on your tax return.
The CRA offers two methods for claiming moving costs when using residential movers in Surrey:
Most experts recommend saving all receipts, even when using the simplified method, for added security if the CRA requests proof.
If you’ve hired long-distance residential movers in Surrey, detailed record-keeping will help you maximize your tax deductions and avoid missing out on eligible claims.
When in doubt, consult a tax professional to ensure you qualify and file your moving expenses correctly.
Relocating with the help of professional residential movers in Surrey can be an exciting fresh start. Plus, if you meet CRA’s criteria, you can ease the financial burden by claiming eligible moving expenses on your taxes. Always maintain thorough records, stay informed about CRA guidelines, and seek expert advice when needed.
By following these steps, you’ll be well-prepared to navigate your move and make the most of your tax deductions!
Gold Line For Moving is a reputable moving business with a track record of providing customers with the best relocation services at the most reasonable prices. Customers receive prompt, dependable, and effective services from a qualified workforce.
