The Minister of National Revenue has announced 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. 



This transitional relief will allow more affected owners to meet their obligations under this new law, which is part of the Government’s long-term plan to increase available housing for Canadians. Consequently, the Canada Revenue Agency will waive the application of penalties and interest for any late-filed UHT returns and for any late-paid UHT payable for the 2022 calendar year, provided the return is filed and the UHT is paid by April 30, 2024.

For more information, link here:  https://www.canada.ca/en/revenue-agency/news/2023/10/underused-housing-tax-transitional-relief-period-extended-until-april-30-2024.html

Source:  Ontario Federation of Agriculture November 3, 2023 newsletter