The UHT May Be Cancelled, But Vacancy Taxes Remain

As tax professionals, you are keenly aware of the constant changes our federal government makes to the Income Tax Act. Adjustments are made, and you must adapt. Not often, though, is a tax eliminated altogether. But in the case of the Underused Housing Tax (UHT), that is exactly what has happened – it was cancelled in the federal budget of November 4, 2025, but Canada’s underused housing taxes have not been eliminated. Here’s what you need to know for tax season 2026.

According to an  article posted on the Canadian Revenue Agency (CRA) website, an Ottawa woman was recently sentenced to 30 days house arrest and ordered to pay a fine of $47,789 due to false statements made on her income tax return.

Before the Family Tax Cut provisions it was straightforward, a given RRSP contribution was always more beneficial if claimed by the higher-income spouse.

Have you reserved your spot at the 2015 Distinguished Advisors Conference (DAC) yet?  

Faline Linstone from Kamloops, BC recently completed the T1 Professional Tax Preparation - Basic course to upgrade her qualifications, and she met all of her objectives.

This is a good time of the year to discuss family health – with your tax advisor! 

Advisors should inform their high net worth clients of recently enacted changes to tax benefits arising from the use of trusts.