- The federal Underused Housing Tax (UHT) will be repealed, with no returns or payments required from 2025 onward, but requirements for 2022-2024 remain.
- The repeal of the federal UHT does not affect existing provincial or municipal UHTs.
- The luxury tax on aircraft and vessels will be eliminated for transactions after 4 November 2025.
- Vendors must file a final luxury tax return for aircraft and vessels, and registrations will be cancelled by 1 February 2028.
- The luxury tax on vehicles valued over CAD 100,000 will remain in effect.
Source: bdo.global
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Canada"
- Alaska and Montana Consider Statewide Sales Tax Amid Fiscal Pressures and Revenue Diversification Needs
- British Columbia Expands PST to Professional Services in 2026 Budget, Effective October 1
- IMF Urges Canada to Reform Tax System for Growth and Economic Resilience
- British Columbia 2026 Budget Expands PST to Professional Services, Removes Select Exemptions
- Canadian Tax Court Clarifies GST/HST Rebate Eligibility for New Housing Purchases and Resale
