Rediscover Ontario and get up to 20% back on eligible accommodation costs
NIAGARA — The Ontario government is encouraging Ontarians to rediscover the province and support Ontario’s important tourism industry during March Break and throughout the year through the Ontario Tax Credit. Ontario for stays. With this personal income tax credit, residents will recoup up to 20% on their eligible accommodation expenses for leisure stays in the province this year.
“Ontario offers the world in one province — from vibrant cities to historic small towns, from food trails to festivals and from mountains to beaches,” said Lisa MacLeod, Minister of Heritage, Sport, Tourism and Culture. “The Ontario Staycation Tax Credit will help make travel more affordable and encourage Ontarians to explore their own province, invigorating local tourism economies by giving a much-needed boost to local businesses while maintaining competitiveness.” of Ontario in the world market.
The temporary personal income tax credit will allow Ontario residents to claim eligible accommodation expenses, up to a maximum of $1,000 for individuals and $2,000 for families. The credit will provide up to a maximum of $200 for an individual and $400 for a family.
Ontarians could recoup up to 20% of eligible accommodation costs for stays between January 1 and December 31, 2022 at hotels, motels, lodges, bed and breakfasts, cabins, campgrounds and other short-term accommodations in Ontario that are subject to the GST/HST.
“Every corner of Ontario is home to family attractions, secluded getaways and other incredible destinations. Through our Staycation Tax Credit, our government is encouraging Ontarians to get out, travel and explore,” said Peter Bethlenfalvy, Minister of Finance. “This tax credit is just one of the ways our government is putting money back in the pockets of families, improving main streets in communities across our province and supporting a strong economic recovery.
Ontario residents will be able to claim the credit when they file their 2022 individual income tax and benefit return in 2023 and may receive the credit even if they do not owe income tax. Residents should keep itemized receipts for their eligible accommodation expenses in Ontario.
Ontario’s Staycation Tax Credit is part of the government’s plan to spur economic recovery and long-term growth so the province can emerge from the pandemic stronger than ever.