Accounting, Bookkeeping & Managed Services Calgary

By | May 11, 2020

If you moved for your post-secondary studies and are a full-time student, you may be able to claim moving expenses from the part of your scholarship, bursary, fellowship, certain prizes or research grant in the year which was required to be included in your income. If you moved to work, including for a summer job or to run a business, you may also be able to claim your moving expenses. However, you can deduct these expenses only from the income you earned at the new work location. To be eligible, your new place of residence must be at least 40 kilometers.

Please read the originial post here: https://versatileaccounting.ca/students-dont-miss-out-on-important-benefits-and-credits/