News & Updates

March 29, 2023

CCI-National has been urgently reviewing the new Federal Underused Housing Tax ("UHT") to determine how it will impact condominium and strata corporations across the country.  The deadline for filing returns for the prior calendar year with the Canada Revenue Agency ("CRA") is April 30. This year's return would be May 1, 2023, as April 30, 2023 is a Sunday.

However, we are pleased to confirm that the CRA announced yesterday that the application of penalties and interest under the UHT for the 2022 calendar year are being waived as long as the return is filed or the UHT is paid by October 31, 2023.  This was done due to the unique challenges facing affected owners for the first year of the tax.

What does this mean?  While filings are still due on April 30, 2023 (May 1, 2023), any condominium or strata that files after this deadline, but before October 31, 2023, will not be penalized.  Furthermore, it provides much needed time to lobby the government to seek to classify condominium and strata corporations as "excluded owners" (similar to co-operative housing corporations).  

CCI-National has put a team together to work on submissions to the Government to address this issue and seek a meeting with the Minister of Finance.  We will provide further updates as they become available.