10/31/2023
For those of you that are required to file a UHT return and haven’t done anything about it yet….well some reprieve for you was announced today! The filing deadline was extended to April 30/24 for 2022 UHT returns! MANY Canadians are caught into a filing position and still don’t realize it! If you own residential property through a corporation or a partnership or a trust (think of parents on title to help kids with financing or think of kids on title to a parent’s home for estate planning……these examples are known as a bare trust), even if everyone involved is a Canadian you may still have a filing requirement even if there is zero tax to pay….and penalties are stiff for failing to file! Contact our office to see if you have a filing requirement for your situation and we can prepare and file the necessary ANNUAL tax return on your behalf!
The Minister of National Revenue announces that owners affected by the Underused Housing Tax (UHT) will have until April 30, 2024, to file their returns for the 2022 calendar year without being charged penalties or interest.