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Are you looking to take your mind off work and have a staycation? Now is the time to do so! The Ontario Staycation Tax Credit is a temporary personal income tax credit that is eligible for Ontario residents who have used accommodation expenses for vacations from January 1st, 2022 to December 31st, 2022.

 

What can Ontario residents get if they apply for this tax credit?

 - Ontario residents can claim 20% of their accommodation expenses used this year. The maximum for an individual is $1,000, $2,000 for a family which translates to $200 for an individual and $400 for a family.

 

Below is a list of eligible expenses:

  • Hotel
  • Motel
  • Cottage
  • Campground
  • Resort
  • Lodge
  • Bed and Breakfast
  • Vacation Rental Property

Below is a list of ineligible expenses:

  • travel expenses that are not for short-term accommodation or camping accommodation, such as expenses for car rentals, fuel, flights, groceries, parking, or prices of admission into local attractions and places of interest
  • accommodation expenses reimbursed to you, your spouse or common-law partner, or your eligible child, by any person, including by a friend or an employer
  • expenses that are incurred for school or educational purposes, or for a work, employment or business purpose, or that can be claimed for a medical expense tax credit

You must keep your detailed receipts for any eligible expenses you claim for the credit. Those receipts must include:

  • the location of the accommodation
  • the amount that can reasonably be considered to be for the accommodation portion of a stay
  • the amount of any GST/HST paid
  • the date of the stay
  • the name of the payor

Keep your Ontario accommodation receipts for 2022! You can claim this credit on your 2022 Personal Income Tax & Benefit Return.

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