Anyone planning to visit( ) by 2022 could be qualified for tax credits under the new Staycation program.
According to a report, Ontarians are entitled to a 20 percent personal incomeon eligible between January 1 through December 31.
This is up to a maximum of CA$1,000 for an individual or CA$2,000 for families, with a maximumof CA$200 or CA$400.
residents can claim the credit while filing 2022 personal tax returns and benefit even if they do not owe any tax.
As per the government regulations, a qualifiedcost must be a stay of less than a month at an eligible such as a hotel, motel, resort, lodge, bed-and-breakfast establishment, cottage, or in .
It must also be a stay between January 1 and December 31 of 2022, only incurred for leisure, and must be paid by thetaxpayer, their spouse or common-law partner, or their eligible child, as set out on a detailed receipt.
It is also added that it should not be reimbursed to the taxpayer, their spouse or common-law partner, or their eligible child, by any person, including by a friend or an employer, and must be subject to Goods and Services Tax (GST)/Harmonized Sales Tax (HST), as set out on a detailed receipt.
The government said thiswould help the and sectors recover and encourage Ontarians to discover the province.
As per thegovernment, the credit will provide an estimated CA$270 million to help more than one-and-a-half million families in their efforts to explore .
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