The Canadian government just enacted a new tax on foreign-owned properties, designed to prevent speculation in vacant (or “underused”) Canadian housing. The UHT amounts to 1% of the property value, every year. However, if you own a seasonal cottage in Canada, i.e. one that you can’t use for over half the year, then it is EXEMPT from the new tax. But there’s a catch: you still have to file with the Canadian government to claim the exemption, by April 30, 2023.
Read more about the tax and how to apply for the exemption here.
Thursday, January 1st, 1970