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.
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| Department/Agency |
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| Title | The underused housing tax : potential impacts and proposed actions : report of the Standing Committee on International Trade / Hon. Judy A. Sgro, chair. |
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| Publication type | Monograph - View Master Record |
| Language | [English] |
| Other language editions | [French] |
| Format | Digital text |
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| Description | 1 online resource (vii, 25 pages). |
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