In January, the Ontario Federation of Agriculture wrote to Deputy Prime Minister and Finance Minister Chrystia Freeland about proposed changes to the Underused Housing Tax filing requirements.
The UHT is a one percent tax that is applied to the value of vacant or underused housing.
Canadian farm business partners and farm corporations owning residential property are considered "affected owners.”
As an affected owner of residential property, they will need to file for exemption from having to pay the UHT or to calculate the UHT they owe.