The Underused Housing Tax is an annual 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The tax usually applies to non-resident, non-Canadian owners. In some situations, however, it also applies to Canadian owners.
Advent Real Estate Services Ltd. cannot advise on the Underused Housing Tax, please contact Canada Revenue Agency (CRA) or an Accountant for more information.
For your convenience Advent has provided a screenshot of The Government of Canada's website below.