Underused Housing Tax - Know Your Reporting Obligation, Live Webinar Mar 8, 2023
The new Underused Housing Tax became effective January 1, 2022. While it does apply primarily to non-residents, it also requires corporations, trusts and partnerships that hold residential property to file an annual return or face a stiff penalty. Join us for a detailed look at who is affected by this new tax, what the exemptions are available and how to file this new return.

OVERVIEW

The new Underused Housing Tax became effective January 1, 2022. While it does apply primarily to non-residents, it also requires corporations, trusts and partnerships that hold residential property to file an annual return or face a stiff penalty. Join us for a detailed look at who is affected by this new tax, what the exemptions are available and how to file this new return.

DETAILS

Budget 2021 proposed the introduction of a national underused housing tax to ensure that “foreign, non-residents, who simply use Canada as a place to passively store their wealth in housing, pay their fair share.” However, as we will discuss in this webinar, the impact of this new tax goes beyond affecting only non-residents.

 

Join Maureen Vance CPA, CA for a comprehensive discussion of the new Underused Housing Tax with emphasis on the upcoming April 30, 2023 filing requirement. And with our one hour format, your time will be optimized for this PD event!

 

TOPICS:

·       Are you an excluded owner or an affected owner?

·       Do you have a filing obligation?

·       Definition of residential property

·       Exemptions for certain properties

·       Vacation or recreational properties

·       Primary place of residence and multiple residences

·       Qualifying occupancy

·       Ownership exemptions

·       Specified Canadian corporations, partnerships and trusts

·       Determining the property value

·       Calculating the tax

·       Penalties

·       Impact on property dispositions

·       Provincial and municipal measures

 

LEARNING OBJECTIVES:

·       Be aware of who has to file the annual UHT return

·       Understand the available exemptions

·       Discover how to file the return

·       Learn what penalties might apply

 

MINIMUM REQUIREMENTS:

You will require an Internet connection and a phone/voice connection at the same time. Most attendees use their computer for the audio. Participants are able to submit questions and comments during the session via a Q&A text panel. Terms, conditions, pricing and services subject to change.

 

TARGET AUDIENCE:

This webinar will be of most interest to accountants, lawyers and other tax professionals advising clients as well as anyone responsible for tax compliance within their organization. It may also be of interest to real estate professionals and investment advisors.

 

PROFESSIONAL DEVELOPMENT CREDITS (CPE HOURS):

Wolters Kluwer professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your spec/ific situation.

Registrations for each Live Webinar are available until the start of each program. We reserve the right to substitute speakers in the case of instructor illness. In /the event that we must cancel a Live Webinar, all registrants will be notified immediately and given the opportunity to either transfer their registration to another Live Webinar or a Recorded Webinar or obtain a refund. For all Live Webinars that are recorded, participants will have access to the recording for 3 months following the Live Webinar. Partial credit will not be awarded for attendees that are not present for the entirety of the Live Webinar. Credit will not be awarded if an attendee does not answer all of the polling questions (where applicable). Additional credit will not be awarded due to the instructor presenting over the allotted time.

 

CANCELLATION POLICY:

Due to the costs involved with planning Web sessions, cancellations must be confirmed in writing at least one (1) business day before the beginning of the Web session. If we receive your cancellation notice within the above-mentioned period, you will receive a full refund. No refund will be issued for notices received after the cancellation period.

 

THIS WEBINAR INCLUDES:

  • 90-days to review the webinar recording

  • Print version of the presentation slides

  • PD Certificate for 2 hours

PRESENTER:

This webinar is being presented by:

Maureen Vance B. Com., CA, CPA, a tax consultant at Wolters Kluwer Canada

Maureen obtained her CA with Peat Marwick Mitchell (a predecessor of KPMG) and joined Taxprep (now part of Wolters Kluwer) in 1985. She completed the CICA In-depth tax course in 1991, and since 2002, she has been a consultant to Wolters Kluwer on tax and compliance issues. Maureen researches and writes material on tax planning and compliance and presents seminars and webinars on various tax and software topics to accounting firms across Canada. She is a member of the CRA-CPA Canada Technology Working Group, a contributor to the CPA Canada Tax Risk Management Guide, a contributing author for the Wolters Kluwer publications Preparing Your Corporate Tax Returns and Preparing Your Partnership Returns and a frequent contributor to various other Wolters Kluwer Canada publications, including Tax Topics.

Maureen Vance
CA B. Com CPA

Maureen obtained her CA with Peat Marwick Mitchell (a predecessor of KPMG) and joined Taxprep (now part of WoltersKluwer) in 1985. As one of the original Taxprep employees, Maureen has been involved with all aspects of Taxprep development and support, including acting as product manager on both Corporate Taxprep and Personal Taxprep. She completed the CICA In-depth tax course in 1991 and since 2002, she has been a consultant to WoltersKluwer on tax and compliance issues. Maureen researches and writes material for training and program documentation and presents seminars and webinars various tax and software topics to accounting firms across Canada. She is a member of the CRA-CPA Canada Technology Working Group, a contributor to the CPA Canada Tax Risk Management Guide as well as a frequent contributor to the Wolters Kluwer Canada publication Tax Topics.