When to file the return and pay the tax
For the 2023 calendar year, the due date to file your return, make any elections, and pay amounts you owe is:
- April 30, 2024
Penalties and interest reduction
Under proposed changes to the UHT legislation, starting with the 2022 calendar year, the minimum penalty would be reduced.
Individuals
$5,000 reduced to $1,000
Corporations
$10,000 reduced to $2,000
Penalties and interest exceptions for 2022
Penalties and interest will be waived if we receive your return and amount you owe by April 30, 2024.
The deadline for making any elections for the 2022 calendar year is also April 30, 2024. Elections can be made within your Underused Housing Tax return.
If you have elected to use the fair market value (FMV) for a residential property, for your calculation for 2022, the FMV must have been established between January 1, 2022, and April 30, 2023.
Penalties and interest for failing to file the return on time
There are penalties if we do not receive your return when it is due.
| Type of affected owner | Minimum penalty |
|---|---|
| Individual | $1,000 |
| Corporation | $2,000 |
You will also have to pay interest if we do not receive amounts you owe (tax payable) when it is due.
For more details, refer to:
Certain exemptions non-applicable for the penalty calculation
If you do not file your return by December 31 of the following calendar year, and you are an affected owner who claims certain exemptions, there is an adjustment to the penalty calculation that could result in higher penalties.
Starting with returns for the 2023 calendar year, it is proposed that the list of certain exemptions would be expanded to include affected owners who claimed the exemption for vacation properties.
Review tax notices:
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