Canada’s Underused Housing Tax is a tax on residential properties that are left vacant or underused by their owners. The tax is aimed at encouraging property owners to put their homes to better use, particularly in high-demand urban areas where affordable housing can be scarce, such as Whistler.
The tax applies to properties owned by non-resident, non-Canadians that are unoccupied for more than six months in a calendar year, OR in the case of resort areas like Whistler, properties that are unoccupied for more than 28 days per year. This annual tax is 1% of the property’s assessed value. The tax is payable annually and collected by the Canada Revenue Agency. Foreign owners of properties in Canada must file for an exemption or pay the tax to avoid fines. Details on this tax and exemptions can be found at the Government of Canada’s website.