Principal Issues: Whether the costs for long term storage and transporting household goods are eligible moving expenses under the Act in a particular situation.
Position: In this situation, no.
Reasons: Under subsection 62(3) of the Income Tax Act (Act), deductible moving expenses include any expense incurred as or on account of "the cost to the taxpayer of transporting or storing household effects in the course of moving from the old residence to the new residence." In this case, the long term storage costs are not incurred “in the course of moving” and are therefore, not deductible as a moving expense under subsection 62(1) of the Act.
