The Canada Revenue Agency has mailed postcards to taxpayers about the Underused Housing Tax in a campaign to raise awareness about the little-known federal levy on foreign-owned real estate, which also involves tax-filing obligations for many Canadians. But the move comes after Ottawa announced amendments last fall that would largely exempt domestic homeowners from the reporting requirements.
John Oakey, a spokesperson for Chartered Professional Accountants of Canada, which represents the profession at the national level, praised the CRA for its effort to make Canadians aware of the UHT. But he wondered why the CRA undertook the campaign at this point.sending out a message to Canadians to see if the UHT applies to them when the Department of Finance announced changes to the legislation that were going to eliminate the requirement for many Canadians to have to file?” he said.
“The tool will also lead them to the appropriate technical notices for their specific circumstance,” she added. Still, the government has left intact the obligation for affected Canadian homeowners to file for the 2022 tax year. The cut-off date to do so was initially April 30, 2023, but the CRA pushed it back to Oct. 31 to help taxpayers comply with the complex new rules. The agency then announced – on the very day of the new deadline – that it would further extend it to April 30 of this year, when 2023 UHT returns are also due.
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