ARTICLE | November 6, 2023
Owners affected by the Underused Housing Tax (UHT) will now have until April 30, 2024 to file their returns for the 2022 calendar year without being charged penalties or interest. Previously, the CRA said it would only provide relief until October 31, 2023, for affected owners who would have been required to file the 2022 return.
The CRA has effectively extended the filing deadline for the 2022 returns to coincide with the deadline to file the 2023 UHT returns. As a result, affected owners who still need to file their UHT return for the 2022 calendar year will now have to file their UHT returns for both the 2022 and 2023 calendar years and if applicable pay any related UHT by April 30, 2024.
How can we help?
The legislation surrounding UHT is complex, and you should not prepare the return based on this announcement. The above announcement is not a comprehensive analysis of the UHT legislation. It is highly recommended that you obtain UHT advice as to your unique fact pattern. Please consult with your McGovern Hurley partner for additional information.
John Mendis, Tax Advisory and Compliance Partner, jmendis@mcgovernhurley.com
Greg Furyk, Business Advisory and Compliance Partner, gfuryk@mcgovernhurley.com
