{"id":9520,"date":"2023-02-04T08:28:56","date_gmt":"2023-02-04T13:28:56","guid":{"rendered":"https:\/\/www.effisca.com\/underused-housing-tax\/"},"modified":"2023-09-13T14:42:49","modified_gmt":"2023-09-13T18:42:49","slug":"underused-housing-tax","status":"publish","type":"post","link":"https:\/\/www.effisca.com\/en\/underused-housing-tax\/","title":{"rendered":"Underused housing tax"},"content":{"rendered":"\n

The Underused Housing Tax came into force on January 1st<\/sup>, 2022. It is therefore in 2023 that the tax obligations resulting from this measure will be applied. This tax targets non-residents as well as non-Canadians who own real estate in Canada that is vacant or underused. <\/p>\n\n

The tax also targets corporations owning residential buildings, whether the shareholder is Canadian or not. However, you may be exempt from this measure if you fall within the definition of excluded owner. Excluded owners include, but are not limited to, Canadian citizens, permanent residents, Canadian corporations whose shares are listed on a stock exchange in Canada, and registered charities.<\/p>\n\n

Affected owners<\/h2>\n\n

If you are an affected owner, it is mandatory<\/strong> that you file a tax return no later than April 30th of each year regardless<\/strong> of wether the buildings are vacant or underutilized. <\/p>\n\n

If your building or buildings are vacant or underutilized, you will have to pay the 1% tax unless you benefit from an exemption. Once again, if you benefit from an exemption, you still have the obligation to file a return<\/strong> in which you claim this exemption. <\/p>\n\n

Exemptions are grouped into four categories:<\/p>\n\n