Tour Ontario and reap the benefits with the Ontario Staycation Tax Credit! This provincial government initiative is designed to encourage Ontarians to explore their backyard and support local tourism. By doing so, you could receive up to a 20% reimbursement on eligible expenses related to overnight stays and accommodations. Not only does this promote local adventures, but it also provides a much-needed boost to our local economy and helps the tourism industry recover from the global pandemic’s impact.
To be eligible for this tax incentive, you must fulfill the following requirements:
Provided all other conditions are met, you can claim expenses related to:
To successfully claim the credit, ensure you keep detailed receipts for any eligible expenses. These receipts must include:
Exploring Ontario has never been so rewarding! With the Ontario Staycation Tax Credit, you can discover local gems while contributing to the province’s economy. Just ensure to keep track of your expenses and meet the necessary requirements to claim your tax credit successfully.
Need help with your tax planning and want to maximize your tax credits? Contact the expert accounting team at Rodina Professional Corporation today for a consultation!
Chartered Professional Accountants offering professional Tax Accounting service
in Ottawa and the Clarence Creek areas.
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