women in travel

Ontario Offering Staycation Tax Credit To Residents

Whether it’s stay just a little bit longer or just stay, Ontario residents are being offered a tax credit as part of the Ontario government’s Ontario Staycation Tax Credit program.

Aware that the COVID-19 pandemic has hit Ontario’s tourism, hospitality and culture sectors particularly hard due to limits on travel and other restrictions, the province is continuing its support of the tourism, culture, sport and recreation sectors. Already, the province has invested over $800 million since the pandemic began.

The Ontario Staycation Tax Credit for 2022 is a temporary program designed to encourage Ontario families to rediscover their home province and in doing so, help the tourism, hospitality and culture sectors recover.

The new Personal Income Tax credit would provide eligible Ontario residents with support of 20% on eligible 2022 accommodation expenses in Ontario of up to $1,000 for an individual or $2,000 for a family.

In total, the credit is expected to provide support of an estimated $270 million in 2022 to about 1.85 million Ontario families.

The credit would provide up to a maximum of $200 for an individual and $400 for a family.

It would build on a wide range of government initiatives designed to help these sectors through the COVID‑19 pandemic, including the Ontario Tourism Recovery Program and the Ontario Tourism and Travel Small Business Support Grant.

And by making tourism in the province more affordable, the Ontario government’s fall financial statement said that the credit would help encourage people to explore Ontario while keeping tourism dollars right here at home.

 

 

 

Posted in Canada, COVID-19, Destinations, News, Tourism Organizations

 

 

Categories