My husband and I moved for work in Nov. 2022 from Ontario to BC. We own a home in Ontario which has been vacant since (could not be rented due to slow demand in winter time although we had been trying). We are not selling the place. Now, for tax-deductible expenses, I am reading
Many costs are deductible as moving expenses, including: 📷legal fees re the purchase of a new home, and any tax, fee or duty (other than GST or value-added tax) imposed on the transfer or registration of title to the new residence 📷costs re-maintaining the old residence, up to a maximum of $5,000, while the old residence is either vacant, or not occupied by any person who ordinarily resided with the taxpayer at the old residence immediately before the move, and while the old residence is not rented by the taxpayer to any other person. These costs are deductible as long as reasonable efforts are made to sell the old residence
My question is:
legal fees re the purchase of a new home, and any tax, fee or duty - Since moving to BC, we have been living in Burnaby and my husband has been travelling to Squamish (85kms). We have been looking at buying our next residence, however, soon my husband will be starting work at a new place 20 km of distance from Burnaby. As we have not yet purchased a home and Since the closing costs can only be claimed if the new home purchased is at-least 40kms closer than the last residence, are we going to lose on the closing cost tax credit? TLDR: Burnaby was a stopgap until we closed on a new place but my husband's job location is changing in the meantime. Are we going to lose on the closing cost tax credit?
costs of re-maintaining the old residence: We have not been looking to sell the place but to rent it. The house ended up vacant in the meantime though. Are we still able to claim the cost of re-maintaining the old residence?