Underused Housing Tax Penalties and Interest Waived

In some welcome news, CRA has announced transitional relief for penalties and interest to affected owners for the Underused Housing Tax (UHT) for 2022. To provide more time for affected owners to take necessary actions to comply with the UHT, penalties and interest for the 2022 calendar year will be waived for any-late filed UHT return and for any late-paid UHT payable, provided the return is filed or the UHT is paid on or before October 31, 2023.

The deadline remains April 30th, 2023, however CRA has taken the administrative position that no penalties or interest will be applied for UHT returns and payments received on or before October 31, 2023.

If you have questions regarding the UHT, please don’t hesitate to reach out to your service provider at Hendry Warren.

Please see CRA’s website for more details.

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We have been in Business since 1992 and had an accountant who was a family friend. When he retired, we needed to find a new accountant. Jacob at Hendry Warren was recommended to us through our Lawyer. We met with him and were impressed immediately; over the years we have gotten to know more of the staff and are equally impressed. They have done our company taxes, company valuations, share purchases, tax planning, covid relief, personal taxes, etc. All of which have gone very smoothly. Hendry Warren is aware of new legislation and has helped us grow as a company.

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Hendry Warren is a very professional organization who are very sensitive to client needs and timelines. Marie Fraser and all of the staff that I have met and worked with exhibit the same degree of courtesy and professionalism. It is always a pleasure working with them.

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From the partners to the new graduates, the quality of service and advice were second to none…we rely heavily on the advice we are given from both an audit and tax perspective…I know that our firm can count on Hendry Warren LLP to be accurate, timely and professional at all times.

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I have used Marie Fraser and her team at Hendry Warren for business, personal and special projects. Deep enough bench strength to cover anything, and small enough to pay attention.

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Jacob has been invaluable over the past 18 months in assisting with the incorporation and start-up of my new business venture. I trust Jacob's advice on complicated income tax and HST matters to allow me to focus on what is most important - my business!

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