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    FRANK LEO & ASSOCIATES

    #1 RE/MAX TEAM IN TORONTO & THE GTA**
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    Ontario Introduces “Staycation” Tax Credit

    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. 

    Read the full story here.