Promise History
3.04.005 - “A re-elected Liberal government will […] [e]xtend Canada’s first-ever national tax on nonresident, non-Canadian owners of vacant, underused housing, announced to begin on January 1, 2022 to include foreign-owned vacant land within large urban areas.”
18-Apr-2023
“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.”
Underused Housing Tax - Government of Canada
07-Apr-2022
“Actions underway since 2015 include […] Tabling legislation that would implement Canada’s first national vacant housing tax on non-Canadian, non-resident owners.”
17-Jan-2022
“On January 1, 2022, the federal government introduced a new tax: the UHT, or Underused Housing Tax. The UHT is calculated by multiplying the assessed value of residential real property by the 1% UHT rate, prorated to the percentage of ownership for the calendar year. The assessed value of residential real property may be established by regulation. Otherwise, the assessed value will be based on the highest property value or the most recent acquisition value.”
01-Jan-2022
“Budget 2021 announced the government’s intention to implement, effective January 1, 2022, a national, annual 1-per-cent tax on the value of non-resident, non-Canadian owned residential real estate that is considered to be vacant or underused.”
Consultation on the Underused Housing Tax - Department of Finance Canada
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