Second Deadline Extension for Underused Housing Tax Filings: What You Need to Know

The 2022 UHT filing deadline has effectively been extended to April 30, 2024, aligning it with the deadline for the 2023 UHT filing.

On the afternoon of the original Underused Housing Tax (UHT) penalty-free filing deadline, the Canada Revenue Agency (CRA) announced a second extension. The 2022 UHT penalty-free filing deadline has now been extended from October 31, 2023, to April 30, 2024. While the official 2022 UHT return and payment deadline remains April 30, 2023, the CRA will not levy penalties or interest on 2022 UHT returns or payments made on or before April 30, 2024. This effectively defers the UHT filing and payment date for the 2022 tax year to that date.

As a reminder, the Underused Housing Tax (UHT) came into effect in 2022. It imposes a 1% tax on the value of any residential property deemed vacant and owned by a non-resident, non-Canadian. Additionally, certain Canadian private companies, trusts and partnerships that own residential property, must file an annual return even if the UHT is not owed. The UHT return filing and payment deadline is April 30th of the following taxation year. Penalties for failure to file a UHT return are severe, including a minimum of $10,000 for corporations and a minimum of $5,000 for individuals.

The repeated extensions highlight the complexity of this new tax, but at Bateman MacKay we can help. If you have questions regarding the change in 2022 UHT filing, 2023 UHT filings or whether the UHT applies to you and your business, please reach out to a Bateman MacKay business advisor.

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