Notice of Ways and Means Motion to amend the Underused Housing Tax Act and a Related Text
Notice of Ways and Means Motion to amend the Underused Housing Tax Act and a Related Text (PDF, 93 KB)
That it is expedient to amend the Underused Housing Tax Act and a related text as follows:
Underused Housing Tax
Amendments to the Underused Housing Tax Act
1 The Underused Housing Tax Act is amended by adding the following after section 1:
Non-application
Marginal note:Tax not payable
1.1 No tax is payable under subsection 6(3) by a person in respect of a residential property for 2025 and subsequent calendar years.
2 The Act is amended by adding the following before section 7:
Marginal note:Return not required
6.1 Despite sections 7 and 10, a person is not required to file a return for a residential property for 2025 and subsequent calendar years.
Repeal of the Underused Housing Tax Act
Marginal note:Repeal
3 (1) The Underused Housing Tax Act, section 10 of chapter 5 of the Statutes of Canada, 2022, is repealed.
(2) Subsection (1) comes into force on January 1, 2035.
Repeal of the Underused Housing Tax Regulations
Marginal note:Repeal
4 (1) The Underused Housing Tax Regulations are repealed.
(2) Subsection (1) comes into force on January 1, 2035.
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