The underused housing tax : potential impacts and proposed actions : report of the Standing Committee on International Trade / Hon. Judy A. Sgro, chair.: XC75-1/1-441-11E-PDF
"Through the Underused Housing Tax Act, effective 1 January 2022, the federal Underused Housing Tax (UHT) is applied on the value of certain residential properties in Canada. Calculated at the rate of 1%, the UHT is applied on the greater of: the assigned value of the property for property tax purposes; or the property’s most recent sale price. The UHT is payable on 1 April of each calendar year, and failure to make the payment when it is due leads to penalties and interest charges. Canadian residential property owners must complete a UHT-related tax return if they own the property as part of a partnership or as a trustee of certain kinds of trusts. As well, a Canadian corporation that owns a residential property must submit a tax return if the corporation does not have listed shares on a domestic stock exchange"--Introduction, page 3.
Permanent link to this Catalogue record:
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| Department/Agency | Canada. Parliament. House of Commons. Standing Committee on International Trade, author, issuing body. |
|---|---|
| Title | The underused housing tax : potential impacts and proposed actions : report of the Standing Committee on International Trade / Hon. Judy A. Sgro, chair. |
| Series title | Report of the Standing Committee on International Trade ; 11th report, 44th Parliament, 1st Session |
| Publication type | Series - View Master Record |
| Language | [English] |
| Other language editions | [French] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Issued also in French under title: Taxe sur les logements sous-utilisés : répercussions potentielles et mesures proposées : rapport du Comité permanent du commerce international. "44th Parliament, 1st Session." "Eleventh report." Includes bibliographical references. |
| Publishing information | [Ottawa] : House of Commons, Canada = Chambre des communes, Canada, November 2023. |
| Author / Contributor | Sgro, Judy, 1944- |
| Description | 1 online resource (vii, 25 pages). |
| Catalogue number |
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| Subject terms | Housing -- Taxation -- Law and legislation -- Canada. Housing -- Economic aspects -- Canada. |
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