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Hurry! Expires December 31st, 2022
Ontario Staycation Tax Credit.
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Ontario Staycation Tax Credit expires at end of 2022
Ontario residents have until Dec. 31, 2022, to take advantage of a temporary tax credit for qualified vacation accommodations within the province.
The temporary Ontario Staycation Tax Credit is a personal income tax credit for eligible Ontario residents to claim 20% of qualified accommodation expenses for vacations taken between January 1-December 31, 2022, in Ontario, up to a maximum of $1,000 for an individual and $2,000 for a family. So that translates to a maximum savings of $200 or $400, respectively.
Residents of Ontario who take a leisure trip in the province and stay at an eligible accommodation can apply for this refundable credit when they file their 2022 personal income tax returns.
For stays of less than a month in Ontario, at a short-term accommodation or camping accommodation, such as a:
• Bed-and-breakfast establishment
• Vacation rental property