Planning a family cottage vacation this year? Not sure if it fits within your budget? Looking to make your hard-earned money go even farther?
Look no further than Great Blue Resorts with eight great cottage resorts to choose from across Ontario’s top cottage country areas. Renting a resort cottage for a week or more makes for a fabulous family experience that mixes the rustic outdoors of camping with resort living, including pools, beaches, organized activities and more.
Not only are you supporting the local and provincial economies, enjoying Ontario’s best natural landscape, and exploring nearby quaint towns, you’ll also be rewarded with a new tax credit that puts some money back in your pocket!
With the goal of boosting tourism and hospitality recovery in Ontario, the provincial government has introduced the Ontario Staycation Tax Credit incentive. Ontario residents booking a getaway within Ontario in 2022 can now claim up to 20% on eligible accommodation expenses.
The Ontario Staycation Tax Credit allows you to claim a maximum credit up to $1,000 for an individual or $2,000 for a family. After filing your 2022 personal tax return, these credits translate into refunds of up to $200 (individual) or $400 (family).
In order to claim this tax credit, you must:
- Take an Ontario vacation of your choosing between January 1st and December 31st of 2022.
- Stayed at an eligible accommodation for less than one month.
- Travel for leisure only (i.e. business expenses are excluded).
- Pay for the getaway yourself (i.e. not be reimbursed by a third party).
- Have booked the stay directly with the provider or through an online platform.
Great Blue Resorts makes it easy to rent a resort cottage, and our accommodations meet all these eligibility criteria.
To claim this tax credit, you’ll need to hang on to detailed receipts. These need to show:
- The location of the accommodation.
- The amount involved. Note that only the amount that can reasonably be considered to be for the accommodation portion of your stay is eligible. So incidentals such as room service would not qualify.
- Harmonized Sales Tax (HST) on the accommodation expense must be shown on the receipt to be eligible.
- The date of the stay.
- Your name as the payor.
Now is definitely the time to plan your family vacation at a Great Blue Resort. Start by deciding what area of the province you want to enjoy, whether Muskoka, the Kawarthas, Prince Edward County, or Perth near Ottawa. Then choose a specific resort in your chosen destination and review cottage availability that best works with your plans.
The Ontario Staycation Tax Credit is an extensive initiative, estimated to provide $270 million in support to Ontario families and help the hospitality sector rebound. But unless policies changes, it’s only envisioned as a temporary measure in place just for 2022. So take advantage while you can!