LATEST TAX TIP ARTICLES

The Canadian government has made a big change that affects many property owners. On March 26, 2026, Bill C-15 received Royal Assent. This bill cancels the Underused Housing Tax (UHT) starting with the 2025 tax year. If you own property that was affected by this tax, you no longer need to file a return or pay the tax for 2025 and beyond. This change brings relief to many homeowners and investors. But what exactly does it mean for you? Let’s break down the details and what you

What Is the Underused Housing Tax (UHT)? The Underused Housing Tax (UHT) is a federal tax introduced by the Government of Canada. Its purpose is to discourage the ownership of underused or vacant residential properties. The tax is generally 1% of the property’s value per year . It mainly applies to certain owners of Canadian residential real estate. However, UHT is often misunderstood . Many people think it only affects foreign owners or vacant homes. This is not entirely tr