Ontario Staycation Tax Credit
Get the Government to Pay for Your Vacation!
The Ontario government has recently announced the Ontario Staycation Tax Credit to help boost provincial travel and tourism.
If you are an Ontario resident as of December 31, 2022, you can claim 20% of your eligible 2022 accommodation expenses of up to $1,000 as an individual or $2,000 if you have a spouse, common- law partner or eligible children. This means you’d get back up to $200 as an individual or $400 as a family. Only one individual per family can claim the credit.
The credit applies to any vacation stay of less than 1 month in the 2022 calendar year, in a:
hotel
motel
resort
lodge
bed-and-breakfast establishment
cottage
campground
The tax credit applies to a series of short stays, as well, so yes, all the stops along your road trip count!
Regardless of how long you stay, you must have a detailed receipt showing:
the location of the accommodation
the amount that can reasonably be considered to be for the accommodation portion of a stay (if your stay includes a meal plan in the cost, you must factor that into the claim)
the GST/HST paid
the date of the stay
the name of the payor
You can claim the credit on your personal Income Tax and Benefit Return for 2022, and it is a personal tax credit, meaning that you can claim it even if you owe income tax in 2022.
So, pack up the car, hit the road, find a romantic getaway or family fun spot, and celebrate all that Ontario has to offer!