Ontarians to Get 20% Back To Support Tourism
The Ontario government has unveiled a recent incentive to support the local tourism industry by giving Ontarians up to 20 per cent back via a tax credit.
It’s called the Ontario Staycation Tax Credit, and the resident will get the money back.
“Ontario offers the world in one province — from vibrant cities to historic small towns, food trails to festivals, and mountains to beaches,” said Lisa MacLeod, Minister of Heritage, Sport, Tourism and Culture Industries. “The Ontario Staycation Tax Credit will help make travel more affordable and encourage Ontarians to explore their own province, reinvigorating local tourism economies by delivering a much-needed boost to local businesses while keeping Ontario competitive in the global market.”
The temporary Personal Income Tax credit will allow Ontario residents to claim eligible accommodation expenses, up to a maximum of $1,000 for individuals and $2,000 for families. The credit will provide up to a maximum of $200 for an individual and $400 for a family.
Ontarians could get back up to 20 per cent on eligible accommodation expenses for stays between January 1 and December 31, 2022, at hotels, motels, lodges, bed-and-breakfast establishments, cottages, campgrounds and other short-term accommodations in Ontario that are subject to GST/HST.
“Every corner of Ontario is home to family attractions, secluded getaways and other amazing destinations. Through our Staycation Tax Credit, our government is encouraging the people of Ontario to get out, travel and explore,” said Peter Bethlenfalvy, Minister of Finance. “This tax credit is just one way our government is putting money back into the pockets of families, boosting main streets in communities aacross our province, and supporting a strong economic recovery.”
Ontario residents will be able to apply for the credit when they file their 2022 personal Income Tax and Benefit Returns in 2023 and can receive the credit even if they do not owe income tax. Residents must keep detailed receipts for their eligible Ontario accommodation expenses.
The Ontario Staycation Tax Credit is part of the government’s plan to drive economic recovery and long-term growth so the province can emerge from the pandemic stronger than ever.
“With more than 40,000 people in Niagara who rely on tourism to support their families, this tax credit offered by the province will make a big impact. Hospitality is what Niagara Falls does best and with programs that we have had in place throughout the pandemic, like safetoplay.ca and safetostay.ca we are ready, our doors are open and we are thrilled to welcome more visitors from across Ontario!”
– Mayor Jim Diodati
City of Niagara Falls
“The Tourism Industry Association of Ontario welcomes the Ontario Staycation Tax Credit and encourages all Ontarians to continue to explore their own province this year. TIAO thanks Minister MacLeod for her continued support for Ontario’s hard-hit tourism and hospitality sectors.”
– Chris Bloore
President and CEO, Tourism Industry Association of Ontario
“The Ontario Staycation Tax Credit provides an added incentive for the people of Ontario to explore and discover their own province. We are grateful to Minister MacLeod for finding an innovative way to benefit families as well as businesses in the tourism sector of Ontario.”
– Joel Noden
Director of Marketing and Business Development, HOCO Entertainment & Resorts Limited