Underused Housing Tax
February 8, 2023
Does the UHT apply to you?
The new Underused Housing Tax (UHT) imposes a 1% annual tax on the value of residential real estate considered to be vacant or underused that is owned on December 31 of each year. The government indicated that the tax would target property owned by non-Canadians; however, the scope of filing requirements extends to many Canadian entities and individuals, including private corporations, and trustees of a trust. The first filings and taxes are due on April 30, 2023.
Click the button below to access the UHT Quick Reference Chart.
Accounting
On November 4, 2025, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, presented Budget 2025 – Canada Strong, to the House of Commons. No changes were proposed to personal or corporate tax rates. Some highlights include the following: Some highlights include: A. Personal Measures Automatic tax filings for low-income Canadians to commence for the 2025 tax year. A 5% credit for eligible personal support workers working for eligible health care establishments. B. Business Measures A variety of new and extended measures for accelerated CCA on asset acquisitions. An anti-avoidance measure to prevent tax deferrals related to refundable dividend tax where dividends are paid within a corporate group. Various modifications to tax incentives related to the clean economy. C. International Measures Revisions to the transfer pricing rules and requirements.
Our team has assembled the most relevant and recent tax, business and agriculture updates for you in this season's newsletter.
