Question: In 2 0 2 4 , Mr . Kumar moved from Saskatchewan to Prince Edward Island ( PEI ) to begin a new business. Business

In 2024, Mr. Kumar moved from Saskatchewan to Prince Edward Island (PEI) to begin a new business. Business profits in 2024 exceeded $50,000. Mr. Kumar incurred the following moving expenses:
Transport of household effects
$5,000
Travel - self, spouse, and three children
2,000
Legal fees - house purchase in PEI
900
Cancellation costs - lease in Saskatchewan
750
Temporary accommodation while waiting for
new house at $70 per day for 30 days
2,100
House-hunting trip (prior to move)
500
What amount represents themaximumamount that Mr. Kumar may deduct for moving expenses in his 2024 personal income tax return?

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