Earlier in November, the Ontario government provided further detail on the proposed new tax credit for the 2022 tax year.
The credit will provide Ontarians with 20% of eligible accommodation expenses up to $1,000 for individuals and $2,000 for families. People filing for the tax credit would see up to $200 return for individuals and up to $400 return for families. Ontarians who do not owe personal income tax can still file for the Ontario Staycation Tax Credit.
Eligibility:
- Your stay must be less than a month
- Your stay is in an eligible accommodation such as a hotel, motel, resort, lodge, bed-and-breakfast establishment, cottage or campground in Ontario
- Your stay is between January 1 and December 31 2022
- Is a trip for leisure
- The trip is paid for by the person filing taxes in Ontario as per a detailed receipt. Eligible spouse, partner or child can also pay for the trip.
- The trip has not been reimbursed to the tax filer by a friend, family member or employer
- The trip is subject to GST and HST as per a detailed receipt.