Tax credit available for vacation stays in Ontario
With March Break upon us, the Ontario government is reminding residents of the Ontario Staycation Tax Credit in place for 2022.
Residents will get back 20 per cent on eligible accommodation expenses for stays in the province this year. This includes hotels, motels, lodges, bed-and-breakfast establishments, cottages, campgrounds, and other short-term accommodations in Ontario that are subject to GST/HST.
Individuals can claim $1,000 and families can claim up to $2,000 for a credit of $200 to $400.
Through our Staycation Tax Credit, our government is encouraging the people of Ontario to get out, travel, and explore,” said Minister of Finance Peter Bethlenfalvy. “This tax credit is just one way our government is putting money back into the pockets of families, boosting main streets in communities across our province, and supporting a strong economic recovery.”
The tax credit was introduced last year in an effort to help the tourism industry recover from the past two years.
“The Tourism Industry Association of Ontario welcomes the Ontario Staycation Tax Credit and encourages all Ontarians to continue to explore their own province this year. TIAO thanks Minister MacLeod for her continued support for Ontario’s hard-hit tourism and hospitality sectors,” President and CEO of the Tourism Industry Association of Ontario Chris Bloore.
Residents will be able to apply for the credit when they file their 2022 personal income tax benefit.