New this tax season is the Underused Housing Tax (UHT). This is a Federal Canada wide new tax and declaration form. It came into effect on January 1, 2022. But more information has now been provided by Canada Revenue Agency and the form is now available. What is it; This is a 1% annual tax on the greater of the assessed value or FMV of non-resident, non-Canadian owned residential real estate that's considered to be vacant or underused. Why it’s important; Unless you are an... [read more]