Niagara/CMEDIA: Ontarians are being encouraged by the Ontario government to rediscover the province and support Ontario’s important tourism industry this March Break and all year round with the Ontario Staycation Tax Credit.
The Ontario Staycation Tax Credit is part of the government’s plan to drive economic recovery and long-term growth so the province can emerge from the pandemic stronger than ever.
This Personal Income Tax credit would enable residents to get back up to 20 percent on their eligible accommodation expenses up to a maximum of $1,000 for individuals and $2,000 for families. The credit will provide up to a maximum of $200 for an individual and $400 for a family in the province this year.
“The Ontario Staycation Tax Credit will help make travel more affordable and encourage Ontarians to explore their own province, reinvigorating local tourism economies…while keeping Ontario competitive in the global market,” said Lisa MacLeod, Minister of Heritage, Sport, Tourism and Culture Industries in a news release today.
Up to 20 percent on eligible accommodation expenses would cover stays between January 1 and December 31, 2022, at hotels, motels, lodges, bed-and-breakfast establishments, cottages, campgrounds, and other short-term accommodations in Ontario that are subject to GST/HST. Residents must keep detailed receipts for their eligible Ontario accommodation expenses.
“Through our Staycation Tax Credit, our government is encouraging the people of Ontario to get out, travel, and explore…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,” said Peter Bethlenfalvy, Minister of Finance in today’s news release.
Ontario residents can apply for the credit when they file their 2022 personal Income Tax and Benefit Returns in 2023 and can receive the credit even if they do not owe income tax.
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