The Ontario Staycation Tax Credit was a program launched by the government of Ontario in 2021 to encourage residents to explore their own province and support local tourism businesses. The program provided a tax credit of up to $1,000 per household for eligible expenses related to accommodation, attractions, and food and drink purchases.
Here's everything you need to know about the Ontario Staycation Tax Credit:
Eligibility: To be eligible for the tax credit, you must be a resident of Ontario and have incurred eligible expenses between June 1, 2021, and September 30, 2021.
Eligible expenses: The tax credit applies to eligible expenses related to accommodation, attractions, and food and drink purchases. Eligible expenses must be made at eligible Ontario tourism businesses that are registered for the program.
Claiming the credit: To claim the tax credit, you will need to keep receipts for all eligible expenses and complete the Ontario Staycation Tax Credit application form when it becomes available. You will also need to provide proof of your Ontario residency and eligibility.
Maximum credit: The maximum tax credit per household is $1,000, which can be claimed on eligible expenses up to a maximum of $10,000.
Program end: The Ontario Staycation Tax Credit program ended on September 30, 2021.
It's important to note that the Ontario Staycation Tax Credit was a one-time program and is not currently available for future use. However, the government of Ontario may consider similar programs in the future to support local tourism businesses and encourage residents
