Do I Have to File an Underused Housing Tax Return in British Columbia?
This answer covers the law of British Columbia.
Probably not for recent years, but you may still have to file for 2022, 2023 and 2024. The CRA says affected owners do not need to file a return or pay the Underused Housing Tax for 2025 and later calendar years, following Royal Assent of the Budget 2025 Implementation Act, No. 1 on March 26, 2026. The requirement to file and pay still applies to the 2022, 2023 and 2024 calendar years.
For those years, an affected owner is a person who owns residential property on December 31 of the calendar year and is not an excluded owner. Each affected owner files a separate return for each property, whether title is held as an individual, corporation, partner or trustee. Canadian citizens and permanent residents are excluded owners, except when they hold title as a partner or trustee.
Returns are due April 30 of the following year. The minimum late-filing penalty for 2022 to 2024 returns is $1,000 for individuals and $2,000 for corporations. Whether you were an affected owner for a given year depends on your facts, so an accountant or lawyer can confirm before you file.
Key takeaways
- The CRA says affected owners do not need to file a return or pay the Underused Housing Tax for 2025 and later calendar years.
- Filing and payment still apply to the 2022, 2023 and 2024 calendar years.
- Canadian citizens and permanent residents are excluded owners, except when they hold title as a partner or trustee.
- Returns are due April 30 of the following year, and the minimum late-filing penalty is $1,000 for individuals and $2,000 for corporations.