Finance releases final details of underused housing tax

Author: External Author | | Categories: Accounting Services , Bookkeeping Services , Corporate Tax Services , Financial Statement Preparation , Income Tax Preparation , Personal Tax Services , Small Business Accounting , Tax Accountant , Tax Planning , Tax Services

Many pending taxation issues were not addressed in Tuesday’s fiscal update, however 

The federal government has released a motion to enact the 1% underused housing tax (UHT) first proposed in the 2021 federal budget, which is slated to take effect Jan. 1.

The federal government released final details for the UHT in its fall economic update on Tuesday, following a consultation that ran from August to September.

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Original Article Source Credits: ADVISOR'S EDGE, https://www.advisor.ca

Article Written By: Melissa Shin

Original Article Posted on: December 14, 2021

Link to Original Article: https://www.advisor.ca/tax/tax-news/finance-tables-legislation-for-underused-housing-tax

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