Start planning your March Break and 2022 Ontario staycations now!
NIAGARA — The Ontario government is encouraging the people of Ontario to rediscover the province and support Ontario’s important tourism industry this March Break and all year round with the Ontario Staycation Tax Credit. With this Personal Income Tax credit, residents will get back up to 20 per cent on their eligible accommodation expenses for leisure stays in the province this year.
“Ontario offers the world in one province — from vibrant cities to historic small towns, food trails to festivals, and mountains to beaches,” said Lisa MacLeod, Minister of Heritage, Sport, Tourism and Culture Industries. “The Ontario Staycation Tax Credit will help make travel more affordable and encourage Ontarians to explore their own province, reinvigorating local tourism economies by delivering a much-needed boost to local businesses while keeping Ontario competitive in the global market.”
The temporary Personal Income Tax credit will allow Ontario residents to claim eligible accommodation expenses, up to a maximum of $1,000 for individuals and $2,000 for families. The credit will provide up to a maximum of $200 for an individual and $400 for a family.
Ontarians could get back up to 20 per cent on eligible accommodation expenses for stays between January 1 and December 31, 2022, at hotels, motels, lodges, bed-and-breakfast establishments, cottages, campgrounds and other short-term accommodations in Ontario that are subject to GST/HST.
“Every corner of Ontario is home to family attractions, secluded getaways and other amazing destinations. Through our Staycation Tax Credit, our government is encouraging the people of Ontario to get out, travel and explore,” said Peter Bethlenfalvy, Minister of Finance. “This tax credit is just one way our government is putting money back into the pockets of families, boosting main streets in communities across our province, and supporting a strong economic recovery.”
“I encourage local residents to enjoy and take advantage of the tax credit for staying at one of the many great accommodations we have in Ontario, as they experience the wonderment of their home province,” said Jim McDonell, MPP for Stormont-Dundas-South Glengarry.
Ontario residents will be able to apply for the credit when they file their 2022 personal Income Tax and Benefit Returns in 2023 and can receive the credit even if they do not owe income tax. Residents must keep detailed receipts for their eligible Ontario accommodation expenses.
The Ontario Staycation Tax Credit is part of the government’s plan to drive economic recovery and long-term growth so the province can emerge from the pandemic stronger than ever.