Ontario residents who enjoyed a vacation within the province in 2022 can claim their eligible accommodation expenses on their upcoming tax returns through the Ontario Staycation Tax Credit. Introduced as a temporary, refundable personal income tax credit, this credit allows families and individuals to claim 20% of their eligible accommodation expenses for stays between January 1 and December 31, 2022. To be eligible, the short-term accommodation must be a hotel, motel, resort, lodge, bed-and-breakfast, cottage, campground, or vacation rental property, and the receipts must include the location, date of stay, name of purchaser, cost, and amount of taxes paid. The accommodation expenses can be expensed up to $1,000 for individuals or $2,000 for families for one or multiple trips, as long as they were paid by the individual, spouse, partner, or eligible child. Don't miss out on this opportunity to save on your staycation expenses!
