Look closely at the rules and you’ll see the requirement to file applies to more people and entities than you might expect
My wife Carolyn and I visited some good friends recently. Our friend Karen shared that she’s been suffering from insomnia. “The good news, Karen, is that you’re married to Dan – who’s an accountant. Next time you have trouble sleeping, just roll over and ask him to tell you about his day,” I suggested. I said that another good way to fall asleep is to read the rules about the Underused Housing Tax , which became effective Jan. 1, 2022.
The deadline for UHT returns – Form UHT-2900, Underused Housing Tax Return and Election Form – is April 30 each year for the prior year. This year, since April 30 is a Sunday, the taxman will accept 2022 returns filed by May 1, 2023. Sound pretty clear? Let’s look at it closer.Partners of a partnership and trustees of a trust are not considered to be excluded owners, so they may have to file.
There’s an exemption, for example, for properties that are a primary residence or meet “qualifying occupancy” criteria. And vacation properties located in an eligible area of Canada and used for at least 28 days a year A corporation can be exempt if foreign owners own or control less than 10 per cent of the shares or voting rights, and Canadian partnerships or trusts can be exempt if all the partners or beneficiaries, respectively, are excluded owners or corporations that are exempt.Penalties Apply
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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