What you need to know with Ontario's staycation tax credit about to expire
Ontario's staycation tax credit is set to expire at the end of the month.
The temporary government program was introduced on Jan. 1 and will expire on Dec. 31.
It offers a 20 per cent personal income tax credit on eligible accommodation expenses of up to $1,000 for an individual and $2,000 for a family, for a maximum credit of $200 or $400, respectively.
The program originally came to fruition in an effort to help local tourism and hospitality sectors hit hard by the pandemic.
How to apply
To take advantage of the refundable credit, Ontario residents can apply for it while submitting their 2022 personal tax returns and benefit.
Even if the resident does not owe taxes, they can still apply.
What is the eligibility criteria?
- A stay of less than a month at a hotel, motel, resort, lodge, bed-and-breakfast establishment, cottage or campground in Ontario;
- A trip between Jan. 1 and Dec. 31, 2022;
- A leisure travel expense, business trips are excluded;
- Paid by the Ontario tax filer, their spouse or common-law partner, or their eligible child, as set out on a detailed receipt;
- Not reimbursed to the tax filer, their spouse or common-law partner, or their eligible child, by any person, including by a friend or an employer; and
- Subject to Goods and Services Tax (GST)/Harmonized Sales Tax (HST), as set out on a detailed receipt.
CTVNews.ca Top Stories
'My family doctor just fired me': Ontario patients frustrated with de-rostering
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
Suspect sought after fatal slashing in downtown Toronto
Police are searching for a suspect in a homicide investigation after a man was slashed in downtown Toronto on Sunday.
Edibles, armchairs and adapters: Here are the recalls for this week
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
Putin replaces Russian defence minister in rare cabinet shakeup
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Wildfire near Fort McMurray more than triples overnight, several evacuation alerts remain in place
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Canada Post cracks down on Nunavut loophole to get free Amazon Prime shipping
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
Mother's Day movies that pull at ALL the heartstrings
This Mother's Day Weekend, take a look at some of the most emotional movies inspired by moms.
WATCH Dashcam video shows terrifying near-miss on two-lane northern Ontario highway
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
'It was violent': Police tear down U of A pro-Palestinian encampment Saturday morning
Multiple people at the protest camp torn down at the University of Alberta campus Saturday say police's actions against protesters were "violent" and "disproportionate."