Find Your Place In Canmore Alberta

Underused Housing Tax May Affect You

There is a new tax filing obligation in effect, filing deadline April, 30 2023. This may affect you!

Who does this new tax affect?

An affected owner includes: (but not limited to)

  • Non-Canadians owning residential property in Canada
  • Canadians owing a residential property as a trustee of a trust
  • Canadians owning a residential property as a partner of a partnership
  • A corporation that is incorporated outside Canada
  • A Canadian corporation whose shares are not listed on a Canadian stock exchange
  • A Canadian corporation without share capital

This may include:

•Husband and wife ownership may be considered a partnership

•Properties purchased in Holding Companies or Incorporated Businesses

•Properties purchased personally with a Bare Trust Agreement.