Chris Shaffer is being transferred by his employer from Prince George, British Columbia to Red Deer, Alberta. All moving expenses can only be deducted from income earned in Red Deer in the year of the move. There are no carry forward provisions for moving costs.

Question

Quizplus · Accepted Answer

In Canada, moving expenses can be deducted from the income earned at the new location, but if the expenses exceed the income earned in that year, the excess can be carried forward to be deducted in future years.

Chris Shaffer Is Being Transferred by His Employer from Prince