Financial Matters

April, 20 2023 Published by Grand River Chapter

Federal Underused Housing Tax – Update

The Underused Housing Tax Act came into force with an effective date of January 1, 2022.

The Underused Housing Tax Act came into force with an effective date of January 1, 2022. Any person or entity that owns residential property in Canada and that does not fall into the definition of “excluded owners” are considered to be an ”affected owner”. Affected owners must file an annual Underused Housing Tax (“UHT”) return with the CRA by April 30, 2023 (a previous newsflash showed this date as May 1).

Filing deadline: April 30th, 2023.
Waiver of penalties and interest until November 1, 2023

Read more about this update here.


CCI-GRC Editor

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