Unused Housing Tax – Get the Facts!Cynthia Vincze CPA, CMA
Residential real estate which is considered to be vacant or underused will be subject to a 1% annual tax. This tax will apply to individuals, Canadian corporations, trustees and partnerships. Filing is due May 1, 2023. The penalty for not filing will start at $5k for individuals and $10k for corporations! Contact me to help you understand if you might be subject to this tax!