Staycation Income tax credit for OCR guests 2022

Staycation Tax Credit Receipts Sent

03/20/2023 | by Webmaster | Vacation Rentals

OCR has emailed all Staycation Tax Credit receipts to our 2022 guests. To comply with government requirements, and for our customers’ ease, we have included the HST tax number and all other information required in order to claim the credit.

As all our 2022 OCR guests know, the Staycation credit was available for all our 2022 bookings.  The tax credit allows Ontarians to claim 20 per cent of expenses for vacation accommodations such as hotels, cottages or campgrounds when filing income taxes — with individuals eligible to receive up to $200 and families $400.  This is a considerable advantage to booking a cottage vacation, and also helps to offset the additional HST that was added to the overall price of a cottage vacation rental in 2021.

Both the Ontario Chamber of Commerce and the Canadian Federation of Independent Business have called for the tax credit to be permanent. They call on government to bring in similar initiatives to support the travel industry’s rebound and growth.  We at OCR would suggest even one more year, that is 2023, would help to keep tourism in Ontario, given the mass exodus of tourists to warmer climes in winter. With so much to do in Ontario in all seasons of the year, we need to do more to encourage people to appreciate nature in Ontario’s cottage country.