The UHT May Be Cancelled, But Vacancy Taxes Remain

As tax professionals, you are keenly aware of the constant changes our federal government makes to the Income Tax Act. Adjustments are made, and you must adapt. Not often, though, is a tax eliminated altogether. But in the case of the Underused Housing Tax (UHT), that is exactly what has happened – it was cancelled in the federal budget of November 4, 2025, but Canada’s underused housing taxes have not been eliminated. Here’s what you need to know for tax season 2026.

New 2018 Federal Budget includes business tax provisions addressing tax changes for business income.

Review additional tax provisions announced by the Government in the 2018 Federal Budget.

March 1, 2018 is an important date for savvy taxpayers:  don’t miss topping up your RRSP contribution by this deadline. It’s a great investment for your retirement, of course, but it’s so much more powerful:  there are, in fact, three additional tax secrets most people don’t know about that can help you improve your finances.

Interest rates are rising and Canadians are already feeling the pinch in paying down their operating lines.  Owing the taxman can add to the burden.  The Bank of Canada’s next interest rate announcement is March 1 and for some, the trend is already uncomfortable. Debt management is key.

The first tax returns of the year will be processed on February 26 this year.  February 28 is the last day to catch up your filings and preserve appeal rights under the old Voluntary Disclosure rules that allow for full interest relief.  That means tax deniers or procrastinators must step up now.

Canadians who earn tips and gratuities are required to report this income on their annual income tax returns. This year the tax auditor is once again taking a closer look, and it’s become easier than ever, as audits of credit card and debt payments provide a reliable record of undeclared amounts.  Here’s what you need to know to bust those tax audits: