According to the Canada Revenue Agency (CRA), there is a travel credit for Ontario called the Ontario Staycation Tax Credit. It is aimed to encourage Ontario families to explore the province and help tourism sectors recover financially from the Covid-19 pandemic.
You may claim 20% of eligible accommodation expenses, for example staying at a hotel, cottage, or campground. Eligible Expenses are as follows:
Hotels, Motels, Resorts, Lodging, Bed-and-breakfast, Cottages, Campgrounds, and Vacation rental properties.
Who is eligible:
You are eligible to claim the credit if you are an Ontario resident on December 31, 2022. Only one individual per family can claim the credit for the year. Your claim can include eligible expenses of your spouse/common-law partner and eligible children.
What expenses are ineligible:
- Travel expenses that are not for short-term accommodation or camping accommodation, such as expenses for car rentals, fuel, flights, groceries, parking, or prices of admission into local attractions and places of interest
- Accommodation expenses reimbursed to you, your spouse or common-law partner, or your eligible child, by any person, including by a friend or an employer
- Expenses that are incurred for school or educational purposes, or for a work, employment or business purpose, or that can be claimed for a medical expense tax credit
Claiming the Credit:
You can claim the credit on your personal tax return for 2022. It is a refundable tax credit, meaning if you are eligible you may get money back whether you owe tax or not.
For more information, check out: Canada Revenue Agency - Ontario Staycation
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