Good news for Ontario residents ... the Ontario Government wants to pay you to vacation in Ontario in 2022! With the opening of Canada's borders, the pull of distant sun destinations is tempting but, with the requirement to provide a negative PCR test on your return, those out-of-Canada trips can soon become costly.
The hard-hit Ontario tourism sector has welcomed this initiative and hopes that residents will take advantage of the personal income tax credit (PIT) it brings. The credit provides Ontario residents with support of 20% of eligible 2022 accommodation expenses of up to $1,000 for an individual and $2,000 for a family, for a maximum credit of $200 or $400 respectively.
Ontario residents can apply for this refundable credit when they file their 2022 PIT returns and can benefit even if they do not owe any PIT. An eligible accommodation expense would have to be:
- For a stay of less than a month at an eligible accommodation such as a hotel, motel, resort, lodge, bed-and-breakfast establishment, cottage or campground in Ontario
- For a stay between January 1 and December 31, 2022
- Incurred for leisure (e.g. a non-business purpose)
- Paid by the Ontario tax filer, their spouse or common-law partner, or their eligible child, as set out on a detailed receipt
- Not reimbursed to the tax filer, their spouse or common-law partner, or their eligible child, by any person, including by a friend or an employer; and
- Subject to Goods and Services Tax (GST) and Harmonized Sales Tax (HST) as set out on a detailed receipt.
While RV rentals in Canada do not qualify for this tax credit, overnight stays in Ontario campgrounds do. When you rent an RV with CanaDream, our CanaDream Club campground partners also offer discounts and other offers to further reduce the cost of your vacation. Hand in hand with the PIT, CanaDream Club discounts provide an ideal opportunity to consider a motorhome rental in Ontario in 2022 and save $$ on your campground costs.
Simply book an RV rental, book a CanaDream Club campground and keep your itemized Ontario campground receipts, then reap the benefit when filing your 2022 Ontario tax return. What could be easier?