Understanding Underused Housing Tax (“UHT”) – It’s Not Just for Canadians!

Learning Objectives

• To discuss the fundamental principles and purpose of the Underused Housing Tax (UHT).
• To identify the filing requirements applicable to affected owners of residential properties in Canada.
• To explain potential exemptions available to mitigate the 1% tax on the value of Canadian residential properties.
• To analyze various property valuation methods used in determining UHT obligations.
• To discuss and recognize the diverse impact of UHT on different types of entities, including Canadian citizens, permanent residents, and non-Canadian entities such as corporations, partnerships, and trusts.

Course Description

This course is valid up to April 22nd, 2026 for FP Canada Professionals. It is advisable to complete this course before that to get the credit on time.

Ever wondered about the mysterious world of Underused Housing Tax (UHT) and how it might affect property owners, not just in Canada but around the globe? Join us in this CPD webinar where David Crawford will unravel the essential aspects of UHT, shedding light on its influence on Canadian citizens and permanent residents, as well as legal entities like corporations, trusts, and partnerships. Get ready for a deep dive into topics like "affected owners," yearly filing requirements, potential exemptions, property valuation methods, and the nuances involved in filing UHT returns for different types of entities.

Throughout this online webinar, you'll discover the fundamental principles of UHT and how they extend beyond Canadian borders, impacting not only citizens and permanent residents but also non-Canadian entities such as US citizens, residents, corporations, partnerships, and trusts. David will guide you through the maze of annual UHT return filings, detailing the obligations and timelines applicable to "affected owners" with residential properties in Canada. Explore the avenues for potential exemptions, offering insights into avoiding the 1% tax on the value of your Canadian residential properties.

By the end of this CPD Course, you'll have a solid understanding of how UHT operates and its diverse impact on individuals and entities. You'll gain practical insights into filing obligations, exemptions, and other critical aspects of UHT. At a high level, the learner will also understand other similar taxes and “enforcement” systems in various parts of Canada, including Canada’s extension on a ban to purchase residential property by many non-residents of Canada until 2026.

Key Highlights:

• Underused Housing Tax (UHT) Overview
• Filing Requirements for Affected Owners
• Potential Exemptions from UHT
• Property Valuation Methods
• Impact of UHT on Different Types of Entities

Overview

• UHT Overview and Objectives

  3 mins
• UHT exemptions for affected owners

  12 mins
• Completing the UHT return

  25 mins
• Proposed changes to UHT rules

  34 mins
• Other indirect tax considerations

  46 mins