Underused Housing Tax explained

Canadians and non-residents who own residential properties in Canada should familiarize themselves with the new Underused Housing Tax (UHT) which came into effect on January 1, 2022.   
In this video, our Indirect Tax leader, Sarah Noftell discusses key points you need to know, including:
0:43 What is the Underused Housing Tax (UHT)?
1:10 What is a residential property?
4:00 Who has to file?
5:09 What are the exceptions?
5:49 Do I need to file a return?
6:16 Who are considered excluded owners or affected owners?
7:49 What are the penalties for not filing?
8:15 Transitional relief for affected owners announced March 27, 2023
8:30 What are the obligations for affected owners?
9:35 Should I file anyway?
10:31 Who are unexpected filers?
11:25 Eligibility for exemption
Read our tax alert on the UHT here: bit.ly/underused-housing-tax
#UHT #Underusedhousingtax #CanadianHousing

[@yannanshen4602]

With the 3 or fewer dwelling units criteria, do condo owners (of one unit) need to file the UHT tax?

[@yeonginlee7491]

Did not set up the family trust but have the declaration of trust with my daughter who is beneficiary owner . Should I file UHT?

[@Koolguy1986]

I have 4 rental properties in Alberta all rented out
I’m Canadian citizen
All properties are sole proprietor my wife is on title for one property she is a Canadian citizen as-well
If I understand correctly on the CRA website
I have a filing obligation every year now?
My wife has to file for the one she is on title for???

[@Joe3pops]

Why don't you save alot of time and explain first off, who is excempted from this new tax, Canadian citizens?