If you are planning to ‘explore’ the province this year this tax credit may work for you. While the sums aren’t huge any money back is better than none!
“To help the tourism and hospitality sectors recover, and encourage Ontario families to explore the province, the government is proposing a new temporary Ontario Staycation Tax Credit for 2022. The credit would provide an estimated $270 million to support over one-and-a-half million families to further discover Ontario.”
According to the government, an eligible accommodation expense would have to be:
- For a stay of less than a month at an eligible accommodation such as a hotel, motel, resort, lodge, bed-and-breakfast establishment, cottage or campground in Ontario
- For a stay between Jan. 1 and Dec. 31 of 2022
- Incurred for leisure
- Paid by the Ontario tax filer, their spouse or common-law partner, or their eligible child, as set out on a detailed receipt
- Not reimbursed to the tax filer, their spouse or common-law partner, or their eligible child, by any person, including by a friend or an employer
- Subject to Goods and Services Tax (GST)/Harmonized Sales Tax (HST), as set out on a detailed receipt.