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posted Oct 30, 2019 1:14:24 PM

Can I record 2017 moving expenses and then carry them forward to 2018? I retired in 2017 moved across country and started a consulting business in 2018.

I worked in Halifax, retired from the company and moved to Victoria in 2017.  In 2018 I started consulting for my old company and have the potential to consult for other businesses across Canada.  Can I record my moving expenses in 2017 and then carry them forward to 2018?

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Moderator
Oct 30, 2019 1:14:25 PM

Yes. If your net moving expenses paid in the year of the move are more than the net eligible income earned at the new work location in that same year, you can carry forward and deduct the unused part of those expenses from your employment or self-employment income earned at the new work location in the following years.

More information on Moving expenses from the CRA: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-re...