Ontario's Staycation Tax Credit Could Give You Money Back For Travelling In The Province
Exploring Ontario could earn you some benefits.
A new Ontario staycation tax credit could give residents a refund on a portion of their travel expenses, so long as they stay within the province.
The government proposal was announced on Thursday as part of the 2021 Ontario Economic Outlook and Fiscal Review: Build Ontario.
According to the government, the temporary tax credit would give travellers support by covering "20 per cent of eligible 2022 accommodation expenses of up to $1,000 for an individual and $2,000 for a family." Residents would be able to receive a maximum credit of $200 or $400 for those travels.
"Ontario residents could apply for this refundable credit when they file their 2022 [Personal Income Tax] returns and benefit even if they do not owe any PIT," the government's website reads.
Eligible expenses include staying for less than a month at a hotel, motel, bed-and-breakfast, and cottages or campgrounds. Only stays between January 1 and December 31, 2022, will be eligible.
Before you get going, check out our Responsible Travel Guide so you can be informed, be safe, be smart, and most of all, be respectful on your adventure.
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