Underused Housing Tax Return – New April 30th Filing Requirement

New compliance requirements with an April 30th, 2023 filing requirement are upon us. Are you prepared? Clearline Consulting has the resources to help you navigate these new requirements.

An Underused Housing Tax Return may need to be filed if your client owns residential property in a prescribed area. Canadian citizens and permanent residents are exempt from filing.  However, if you own residential property through a trust, partnership, or Canadian corporation, you may be required to file a return, even if you are exempt from the tax. Failure to file penalties are significant, even where your client is exempt from the tax. 

Here is a list of resources we have available to help you navigate these new requirements: 

Free General Information Session

For those unfamiliar with these new filing requirements.  We have available our FREE information session (recorded March 1, 2023) where Clearline Consulting’s tax partner, Shane Schepens, walked through the high-level requirements.  This is an overview session and there are Q&A’s provided.

Practice Resources

For those looking for UHT practice management resources.  We have available for purchase template resources which include draft client communication mailouts or newsletter articles, a templated engagement letter, draft client information checklist, and other available resources.  These can be tailored to your firm and used for both internal and external purposes. Upon purchase of this product, a compressed Caseware file will be provided with all resources for your firm customization.

Technical Professional Development

For those looking for a deep dive into the UHT Act legislative details.  We hosted a 2 hour session (recorded March 2, 2023) where Shane Schepens, walked through the requirements and discussed common and not-so-common scenarios.  In this session over 20 Q&As, as provided by attendees, are addressed.  

Upcoming Live Q&A Professional Development Session

For those with specific questions that are arising within their client situations, we are hosted a 2 hour session on March 23, 2023 at 10:00am PST where Shane Schepens, will walk through the questions and scenario’s as provided by attendees. Upon registration you will be provided with a survey link to provide the details of your specific session. Shane will answer these questions on a first submitted basis during the 2 hours session. Register early to get your question addressed.

Consulting Services

For specific consulting services related to UHT, or other tax related services such, contact Shane Schepens directly.

How can Clearline Consulting help?

As a leading provider of professional consulting services to the Canadian CPA profession, we have the expertise and experience to help firms with compliance and practice management matters in all areas of the firm. As we are also partners in public practice, Clearline Consulting understands the importance of operational efficiency, in additional to standards and regulatory compliance. We work closely with our clients to ensure that their needs are met in the most efficient and cost-effective way possible.

Share this blog with your colleagues, sign up for our newsletter and reach out to @ClearlineConsulting anytime through this contact us link if we can assist with standards implementation including compilation engagements, cyclical monitoring requirements, quality management, tax resources, estate planning or corporate reorganizations, consulting services, CPD and related training, or practice management considerations. Visit our store to see new products released for Underused Housing Tax, AuP engagements, redeemable shares and common deficiencies found on implementation of CSRS 4200.

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