Moving is generally expensive so utilize this opportunity to save money. Certain moving and relocation expenses are tax deductible. As tax regulations frequently change, please check with your local tax advisors for the latest information on qualified deductions. Remember to keep all receipts to verify your expenses.

The following information is for general reference only and details might vary for your specific circumstances.

Moves that qualify for tax deductions

Your move must:

·  Take a new job, your own business, or post-secondary education

·  Take a required distance closer to your existing job/business/education

What type of expenses qualifies for deduction?

·  Packing supplies

·  Moving company fees

·  Cost of insurance for goods in transit

·  Storage of household effects - for a limited time

·  Transportation to the new location

·  Temporary accommodations while traveling to the new location

·  Disconnect and reconnect fees

·  Prorated taxes, interest, and pre-paid interest often referred to as discount points may be deductible 

ALWAYS CONSULT AN ACCOUNTANT OR TAX ADVISOR!