Child care expense and moving expense are the most common deductions that apply to the students. We’re going to focus in on the moving expenses that apply to your income if you’re a student.
The moving expenses may allow you to claim, if the form that your educational institution has an amount in the full-time enrollment checkbox (Box C). There are several reasons that may actually allow you to qualify for the tax deductions from your moving expenses. Check them out.
If you have to attend a post-secondary educational institution, you have to remember that the expenses can just be deducted from the parts of your scholarship, fellowships, bursaries, grants and more, that are taxable. You can only claim moving expense when they happen at the beginning of your academic start period or after a summer break.
If you have to move for employment, then they may be deducted from the employment or self-employment income that you have earned while at your new location. This also includes summer employment as well. You may be able to claim those expenses if you move back as a co-operative student if you move back after a work semester.
If you were paid by your employer, then you CANNOT claim these expenses.
Your home must be about 40 kilometers closer to the new place of work or of the educational institution.
If you are a co-operative student who goes to an educational institution for an academic period and you then work for such a period at your business or industry that relates to your academic studies, then you will be considered as a full-time student.
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