The New Underused Housing Tax: Who must file and who must pay?
If you owned a residential property in Canada on December 31, 2022, you might have to pay an Underused Housing Tax (UHT) if it was vacant or underused. Even if you’re not subject to tax, you may be required to file an Underused Housing Tax return to claim an exemption.
The UHT is an annual 1% tax on the value of underused or vacant residential property in Canada. The first return subject to UHT is due on May 1, 2023 (because April 30 falls on a Sunday).