The Underused Housing Tax (UHT) is an annual 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The tax usually applies to non-resident, non-Canadian owners. In some situations, however, it also applies to Canadian owners. UHT returns are due by April 30 each year with significant penalties for late filing even if there is no tax owing.
If you receive a letter from CRA, please do not ignore it. Read it to see if CRA is requesting information, adjusting your taxes, or confirming what you filed. If you don't understand what the letter is saying, bring it into our office and we would be happy to help you!
From July-November, CRA typically sends out letters requesting more information from personal tax returns. We are noticing that CRA is sending letters to our clients directly instead of to our office. If you receive one of these letters, please bring it into our office so we can respond to CRA promptly. If not responded to within 30 days, CRA will adjust your tax return which results in additional tax charges for you.
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