Ontario Staycation Tax Credit - Get Back Up To $400 When You Book An Ontario Staycation

Published: March 19, 2022 | 2:30 AM

ONTARIO STAYCATION TAX CREDIT

As the COVID-19 pandemic restrictions are slowly being lifted here in Ontario, families and individuals planning their next vacation may want to consider a staycation in Ontario. Ontario announced a new tax credit incentive called: “Ontario Staycation Tax Credit”. This temporary tax credit allows individuals or families to claim 20% of their eligible accommodation expenses on their personal income tax and benefit return for 2022. Eligible expenses can be claimed up to $1,000 for individuals and $2,000 for families, which brings the total savings to $200 as an individual or $400 as a family.

The Ontario Staycation Tax Credit is an encouragement for families and individuals to explore the province while assisting out the tourism and hospitality industry that suffered financial impact from the COVID-19 pandemic.

 Eligibility for the tax credit is for the residents of Ontario on December 31, 2022.  One individual per family can claim the credit for the year but can also include the expenses of a spouse or common-law partner and eligible children.

 Eligible expenses that you can claim for accommodation expenses for a leisure stay of less than one month in Ontario, at short-term accommodations like hotels, motels, and resorts, or camping accommodation. This can be for one trip or multiple trips, but the stay must be under a month.

● hotel
● motel
● resort
● lodge
● bed-and-breakfast establishment
● cottage
● Campground

Airbnb rentals can be included as an eligible expense provided that the host is registered for GST/HST and the accommodation fits all the other criterias. Accommodation expenses must include a detailed recipe that indicates the person paying, have GST/HST, date of stay and the location of the accommodation.

Full details and information regarding the Ontario Staycation Tax Credit is available on the Ontario government website: https://www.ontario.ca/page/ontario-staycation-tax-credit

TRAVEL INSPIRATION

Looking for inspiration on where to go next? Check out the Ontario Tourism website for ideas: https://www.destinationontario.com/en-ca

LEFT TO RIGHT: Flowerpot Island, Lion’s Head, Bruce Peninsula National Park | Shot with Canon T5 + 18-55mm