Regulatory Initiative: Regulatory Proposals Relating to the Underused Housing Tax Act – Forward Regulatory Plan 2023-2025
Title or working title of the regulatory initiative:
Regulatory Proposals Relating to the Underused Housing Tax Act
Description of the objective:
On November 21, 2023, as part of the 2023 Fall Economic Statement, the government proposed to make several changes to the Underused Housing Tax (UHT) to help facilitate compliance, while ensuring that the tax continues to apply as intended.
Indication of business impacts:
The Small Business Lens is not expected to apply.
Public consultation opportunities:
As announced in the 2023 Fall Economic Statement documentation, which was tabled in the House of Commons by the Deputy Prime Minister and Minister of Finance on November 21, 2023, draft regulatory proposals were made available on the Finance Canada website. Interested parties were invited to provide comments on the proposals by January 3, 2024.