For students, there are a few well known tax credits, however, many forget about moving expenses.
As long as you are going farther than 40 KM from home to go to school, you should be able to claim line 21900 Moving Expenses.
Kind of Moving Expenses
You should be OK claiming those but remember to keep all receipts.
Yes, but be careful how you claim your usage. Check the CRA for exactly how to claim these. Remember to keep all receipts for meals, gas, and incidentals.
Up to 15 days of expenses if you have to hunt around to find an apartment.
Moving every 4 months or 8 months can get expensive. The documentation states:
“For co-operative students moving back after a summer break or a work semester, you can also claim your moving expenses as long as you meet the previously-stated requirements.“
For those graduating if you are moving out of your University living quarters and are moving to a new city to get a job, that is a moving expense. If your employer reimburses you for it, then you cannot claim it. The 40 KM rule comes into play here as well.
As a former Co-Op student, I ended up moving every 4 months. I became quite adept at making my life fit the trunk of a Mercury Zephyr.
Remember it is important to keep all receipts and proof of distance in case the CRA wants proof of moving.
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