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Federal Underused Housing Tax

Publication date:
March 1, 2023
Article Summary: 

The Underused Housing Tax Act came into force in June 2022, with an effective date of January 1, 2022. This legislation introduced the Underused Housing Tax (UHT), a 1% tax on the value of residential properties aimed primarily at non-resident, non-Canadian owners of vacant or underused properties. Excluded owners, including Canadian citizens and permanent residents, are not subject to the UHT. Affected owners, who do not fall under the excluded owner category, must file an annual return with the Canada Revenue Agency (CRA) and pay the UHT unless they qualify for exemptions. Condominium corporations owning residential properties may need to file the UHT return but might be exempt from paying if all their directors are Canadian citizens or permanent residents.


Underused Housing Tax Act, Underused Housing Tax (UHT), Excluded Owners, Affected Owners, Canada Revenue Agency (CRA), Primary Residence Exemption, Specified Canadian Corporation, Condominium Corporations, Tax Season, Annual Return.

Source Citation: 
Federal Underused Housing Tax
March 1, 2023
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