Ready to hit the road? Here’s everything you need to know about Ontario’s Staycation Tax Credit.
Thinking of taking that long-awaited trip but still not ready to stray too far from home? Ontario’s Staycation Tax Credit makes it even more affordable to get away – and save some money while you’re at it. Here’s everything you need to know and a few ideas on where you can go!
So, what is the Ontario Staycation Tax Credit anyway?
The Ontario Staycation Tax Credit for 2022 is a temporary incentive program designed to encourage Ontarians to spend some time exploring the province this year. And after two challenging years, Ontario’s travel industry could use the extra clientele.
While the tax credit cannot be used for items like gas and food, you can use it towards accommodations of less than one month throughout Ontario. This includes hotels, motels, resorts, lodges, b&bs, cottages, campgrounds, and vacation rental properties.
Be sure to keep receipts or records of your stay that include the location of the accommodation; the amount for the accommodation portion of a stay; the amount of any GST/HST paid; the date of the stay; the name of the person who paid.
What expenses don’t qualify?
In addition to the previously mentioned food and gas, time-shares, boat rentals, train trips or vehicles that can be “self-propelled” don’t qualify as short-term accommodations, unfortunately. Flights, parking or paid admission for local attractions are also ineligible for the tax credit. And travel for business or school cannot be claimed either.
And how can you use it to make your trip even better?
With the savings you’ll get from the tax credit, you can spend a few extra days away, splurge on more lavish digs, or simply save it for your next trip!
One last question: Where will you go?
This is a great chance to get to know beautiful Ontario a little better. In addition to the Ontario road trips we suggested here, why not check out some less famous but equally amazing destinations?