Does the Underused Housing Tax apply to you?
If you answer YES to any of these questions, you must file an Underused Housing Tax return:
- Does your privately owned Canadian corporation own residential property?
- Are you a non-Canadian citizen or permanent resident who owns residential property?
- Are you a trustee of a trust that owns residential property?
- Are you in a partnership that owns residential property?
If any of the above apply to you, we can help you complete the Underused Housing Tax Return.
Penalties and interest will be waived if you file your return by April 30, 2024.
Preferred fee to prepare returns for FBC Members is $350 (per return + tax)
Fill in the form below to request assistance with your return.
What if you fail to file a return?
Penalties for not filing the UHT return can be significant!
For individuals, the penalty is the greater of $5,000 and a percentage of the UHT tax owing, and for corporations, the penalty is the greater of $10,000 and a percentage of the UHT tax.
This means that the lowest amount of penalty that would apply would be $5,000 for individuals and $10,000 for corporations.