Many Canadians and Non-Residents will be impacted by the new Underused Housing Tax — Are you one of them?
The Underused Housing Tax (UHT) has a broader impact than originally expected, with many residential property owners unaware of their filing obligations. If you, your corporation, trust, or partnership hold residential property in Canada, you may need to file an annual UHT return for each eligible property by April 30—even if you meet an exemption from the new tax.
It’s important to determine if you’re an affected owner and understand your filing obligations. If you fail to file the required return and/or remit payment, you could face significant penalties or lose your exemption.
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