Anyone planning a getaway within the province in the 2022 tax year could be eligible to receive new “Ontario Staycation Tax Credit”
Ontarians would get a 20% personal income tax credit on eligible accommodation between Jan. 1 2022 and Dec. 31 2022, up to a maximum of $1,000 for an individual and $2,000 for a family, for a maximum credit of $200 or $400 respectively.
Ontario residents could apply for this refundable credit when they file their 2022 personal tax returns and benefit even if they do not owe any tax.
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
The government said this tax credit will help the tourism and hospitality sectors recover and encourage Ontarians to explore the province.