Ontario’s new staycation tax credit is now in effect for 2022.
The new tax benefit will allow eligible travelers planning a getaway within the Province in 2022 to get a tax refund.
Introduced to help Ontario’s seeking to travel more safely amid the pandemic, the Ontario Staycation Tax Credit gives Ontarians a 20 per cent personal income tax credit on eligible accommodations within 2022. The program covers accommodation costs up to $1,000 for an individual and $2,000 for a family.
That’s a maximum credit of $200 to $400 respectively.
Eligible Ontarias can apply for the refundable credit when they file next year’s taxes, even if they don’t owe any tax.
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