Temporary tax credit offers serious incentives for keeping vacations local
The Ontario Staycation Tax Credit for 2022 allows the province’s residents to receive credit for up to 20 percent of accommodation expenses in Ontario—including stays at hotels, resorts, lodges, campgrounds, and more.
From yurts to cabins to campsites and luxury city spas—your options for adventure (or relaxation) this summer are endless.
The credit, which can be claimed when filing your personal Income Tax and Benefit Return for 2022, applies to leisure stays in Ontario of less than a month, at a short-term accommodation or camping site. Basically, any spot you stay this year will earn you cash back come tax return time. Ontario residents can get back up to $200 (on expenses of up to $1,000) as an individual or up to $400 (on expenses of up to $2,000) if traveling with a spouse, common-law partner, or eligible children.
If you’re an Ontario resident you’re in luck! Only one individual per family can claim the credit, but your claim can include those eligible expenses of their spouse, common-law partner, and eligible children. It covers a wide range of accommodations in the region, including hotel, motel, resort, lodge, bed-and-breakfast, cottage, campground, and more. It does not include timeshare agreements or overnight stays on a boat or a train. It also only applies to leisure travel—business trips aren’t eligible.