Hi guys,
The client moved to another province in Dec 2023, and they made an effort to sell the place during the time it was vacant but the house was sold in middle of January 2024 only. So is it legit to claim this amount in 2023 Moving Expense? There is no clear indication on CRA website regarding this matter.
That portion of the moving expense will not be eligible to be claimed until 2024.
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You are certain about this? So I would claim that in the 2024 moving expense instead? I am a bit confused because the moving itself happened during 2023, not 2024 so I am afraid CRA might deny the claim.
For personal, non-business tax, you can’t accrue expenses. As @Arliss said, it will be an expense on the 2024 tax return.
This following text is from CRA’s information about moving expenses. It’s not the Income Tax Act but it’s from the “horse’s mouth”.
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Just ensure your client is prepared to provide the documents when CRA asks. They usually follow up on moving expenses, and it’s going to be scrutinized even more closely when you file a T1M two years in a row, showing the same addresses (moving from/to).
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