Ontario's staycation tax credit just went into effect and here's what that means
Travel outside of Canada seems likea risky propositionthese days and for those who want to visit places closer to home, the Ontario Staycation Tax Credit just started Jan. 1.
The tax credit wasannounced in Novemberas part of the2021 Ontario Economic Outlook and Fiscal Review.And like the最低工资上调, it kicks in at the start of 2022.
Ontario's staycation tax credit comes into effect on Jan. 1, 22 for the year. Ontarians will get a 20% personal income tax credit on eligible accommodation, between Jan 1-Dec 31, up to a max of $1,000 for an individual and $2,000 for a family, for a max credit of $200 or $400
— Roohi CPA LLP (@RoohiCPA)December 30, 2021
Basically, it gives Ontario residents a20 per cent personal income tax creditfor 2022 accommodation expenses (up to $1,000 for an individual and $2,000 for a family).
So if you spend $1,000 for a stay of less than a month, you will get a $200 tax credit.
To claim the expense, an eligible accommodation must be:
There are some wonderful spots to visit around the province. Those who like wildlife couldcheck out the Wye Marsh.
If you like skating, Bala in Muskoka has arink over frozen cranberriesyou can try. A trip to Manitoulin Island could include astay at some beautiful Scandinavian-style cabins.
Ontario getaway has Scandinavian style cabins with spectacular lake viewshttps://t.co/WJUNxmM27F#Ontario
— blogTO (@blogTO)December 11, 2021
For skiers,Calabogie Peaksis a 364-acre resort near Ottawa.
If you just want to relax — and who doesn't after 2021? — there's anew spa openingnear Toronto too.
Alex Indigoat McCrae Lake
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