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.
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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.
