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Underused Housing Tax (UHT)

What you need to know

What’s UHT? The federal Underused Housing Tax (UHT) became effective January 1st, 2022. The UHT imposes a 1% annual tax on the value of Canadian residential property considered to be vacant or underused that is owned on December 31 of each year.

Who does it impact? 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 CCPCs and trustees of a trust.

Deadline to File: The revised deadline to file or pay UHT penalties is now October 31st, 2023; initially, this deadline was April 30th, 2023. Individual owners that fail to file the return on time are subject to a minimum $5,000 penalty, while corporations are subject to a minimum $10,000 fine.

Please review the Quick Reference Chart below. We encourage you to contact your Stark & Marsh advisor for questions about your circumstances.

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