In case you haven’t heard, the pandemic hasn’t been fantastic for the local economy.
That’s why the Ontario government has introduced a new staycation tax credit.
Here’s the short of it: for trips in Ontario taken during 2022, you can get 20% off your accommodations, up to $1,000 for individuals and $2,000 for families.
So on your 2022 income taxes, as an individual you can claim $1,000 and get $200 bucks back. Or as a family you can claim $2,000 and get $400 bucks back.
The credit applies to any leisure stay of less than a month, it can apply to multiple trips, and it only applies to accommodations, not plane tickets or attractions or anything like that.
Eligible accommodation expenses include all the normal things like your hotel, motel, (Holiday Inn), resort, lodge, BnB, cottage, campground, etc.
The important bit is that you keep receipts and that they include your name, date of stay, amount, GST/HST paid, and the location (in Ontario!).
If you’re interested in learning more, you can check out the full details here: www.ontario.ca/page/ontario-staycation-tax-credit
I know lots of people are going camping, attending weddings, and staying at cottages anyway, so you might as well keep the receipts and get a couple hundred bucks back on your taxes, right?