The new Underused Housing Tax (UHT) imposes a 1% annual tax on the value of residential real estate considered to be vacant or underused that is owned on December 31 of each year. The government indicated that the tax would target property owned by non-Canadians; however, the scope of filing requirements extends to many Canadian entities and individuals, including private corporations, and trustees of a trust. The 2023 filings and taxes are due on April 30, 2024.
Here, I have provided some information that will help you determine your filing obligations and tax exposure. In addition, you will find information on how we can help you comply with this new Tax Act.
We recommend that you first complete the UHT Checklist by clicking here if you’ve not already done so to determine if you have any obligations to file.
If you have obligations to file, we offer three service options below that you can choose from:
To purchase any of these options, use the links below:
DONE FOR YOU – $550 plus HST
DONE WITH YOU – $400 plus HST
DO IT YOURSELF – $250 plus HST
For additional resources on the Underused Housting Tax (UHT), you can go directly to CRA’s website here.
If you have any questions, don’t hesitate to email: ken.green@gmscpa.ca
Once again, to purchase any of the service options above, use the links below:
DONE FOR YOU – $550 plus HST
DONE WITH YOU – $400 plus HST
DO IT YOURSELF – $250 plus HST