Tax credit available for vacation stays in Ontario

As March Break approaches, the Ontario government is reminding residents of the Ontario Staycation Tax Credit in place for 2022.

Residents will receive 20% of eligible accommodation costs for stays in the province this year. This includes hotels, motels, lodges, bed and breakfasts, cabins, campgrounds and other short-term accommodations in Ontario that are subject to the GST/HST.

Individuals can claim $1,000 and families can claim up to $2,000 for a credit of $200 to $400.

Through our Staycation Tax Credit, our government is encouraging Ontarians to get out, travel and explore,” said Finance Minister Peter Bethlenfalvy. “This tax credit is just one of the ways our government is putting money back in the pockets of families, improving main streets in communities across our province and supporting a strong economic recovery.

The tax credit was introduced last year in an effort to help the tourism industry recover from the past two years.

“The Tourism Industry Association of Ontario welcomes the Ontario Travel Tax Credit and encourages all Ontarians to continue exploring their own province this year. TIAO thanks Minister MacLeod for her continued support for Ontario’s hard-hit tourism and hospitality sectors,” said Chris Bloore, President and CEO of the Tourism Industry Association of Ontario. .

Residents will be able to claim the credit when they file their 2022 personal income tax benefit.