- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self-employed
Moving expenses are claimed as a deduction against your taxable income on your income tax return. For example, if your taxable income is $50,000 and you have moving expenses to claim in the amount of $7000, your taxable income would now be $43,000. The benefit of lowering your taxable income is that it may put you in a lower tax bracket on the Federal Schedule 1 and the Provincial Schedule 1. There is no definite way to calculate based only on moving expenses whether you will receive a refund as a result. For more information on moving expenses, please see the following FAQ.
‎October 30, 2019
7:47 PM