Ontarians encouraged to “re-discover” province from Whitby to Welland with Staycation Tax Credit
Published March 23, 2022 at 2:01 pm
The Ontario Government is encouraging Ontario residents to rediscover the province and support Ontario’s important tourism industry as it recovers from the impacts of COVID-19 with the new Staycation Tax Credit.
The tax credit will allow Ontario residents to get back up to 20 per cent on eligible accommodation expenses for leisure stays within Ontario this year.
“Ontario offers the world in one Province — from vibrant cities to historic small towns, food trails to festivals, and mountains to beaches,” said Lisa MacLeod, Minister of Heritage, Sport, Tourism and Culture Industries. “The Ontario Staycation Tax Credit will help make travel more affordable and encourage Ontarians to explore their own province, re-invigorating local tourism economies by delivering a much-needed boost to local businesses while keeping Ontario competitive in the global market.”
Tourism plays a critical role in Ontario’s economy. Prior to the pandemic, the industry generated $38 billion in economic activity in 2019 and supported approximately 395,000 jobs.
The temporary personal income tax credit will allow Ontario residents to claim eligible accommodation expenses, up to a maximum of $1,000 for individuals and $2,000 for families, for stays between January 1 and December 31, 2022, at hotels, motels, lodges, bed-and-breakfast establishments, cottages, campgrounds and other short-term accommodations in Ontario that are subject to GST/HST.
“Every corner of Ontario is home to family attractions, secluded getaways and other amazing destinations,” said Finance Minister and Pickering-Uxbridge MPP Peter Bethlenfalvy, who hopes residents can “get out, travel and explore.”
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“This tax credit is just one way our government is putting money back into the pockets of families, boosting main streets in communities across our province, and supporting a strong economic recovery.”
Hilton Garden Inn, Ajax
Lorne Coe, MPP for Whitby and Chief Government Whip, agreed. “By making tourism in the province more affordable for Ontarians, the Ontario Staycation Tax Credit will help keep tourism dollars right here at home.”
Ontario residents will be able to apply for the credit when they file their 2022 taxes next year and can receive the credit even if they do not owe income tax. Residents must keep detailed receipts for their eligible Ontario accommodation expenses.
The Ontario Staycation Tax Credit is expected to provide $270 million in support to about 1.85 million families.
Tourism plays a critical role in Ontario’s economy. Prior to the pandemic, the industry generated $38 billion in economic activity in 2019 and supported approximately 395,000 jobs.
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