On September 23, 2024, the government tabled a Notice of Ways and Means Motion to introduce a bill entitled An Act to amend the Income Tax Act and the Income Tax Regulations. This Notice of Ways and Means Motion modified the motion tabled on June 10, 2024.

Based on the Fall Economic Statement, on November 21, 2023, under the proposed changes to the Underused Housing Tax (UHT), for the 2022 reporting period, non-excluded owners of residential properties in Canada must file a UHT return by April 30, 2024.

Effective January 1, 2022, the Canada Revenue Agency introduced the Underused Housing Tax (UHT). ​ HIGHLIGHTS ​ Annual 1% Tax: The UHT is...