If you are an American with vacation property in Canada there is lots to learn about this new tax and the stiff fine for not filing.
For example, one exemption was not included in the first bill issued in 2022, but was included as an amendment in Jan 2023. The UHT may also apply to Canadian residents in limited situations, such as partnership or trust ownership of property, so everyone should look over the UHT form.
Here is the link to verify if your property is subject to the UHT:
https://apps.cra-arc.gc.ca/ebci/sres/ext/pub/ntrUhtExpnTl?request_locale=en_CA
Key point is that you must use the property at least 28 days a year in order to apply the vacation property exemption, otherwise the exemption is not applicable. Read more here:
If you are an affected owner of residential property in Canada, you need to file the Underused Housing Tax form to the Canadian Revenue Agency by April 30, 2023. Find out who is affected, get updates about filing penalties, and a link to the tax form on FOCA’s webpage.