Cynthia Vincze CPA, CMA – Unused Housing Tax

08MarMarch 8, 2023

Unused Housing Tax – Get the Facts!

By Cynthia Vincze CPA, CMA Blog 0 Comments

Residential real estate which is considered to be vacant or underused will be subject to a 1% annual tax. This tax will apply to individuals, Canadian corporations, trustees and partnerships. Filing is due May 1, 2023. The penalty for not filing will start at $5k for individuals and $10k for corporations! Contact me to help you understand if you might be subject to this tax!

Don't just take my word for it - see what my clients are saying about me:

Our experience with Cynthia as an accountant over the many years has been top notch.

Cynthia was instrumental in getting our monthly, quarterly and yearly financial statements (balance sheet, income and cash flow statements) cleaned up and current by not only rolling up her sleeves and reconciling a mess, but also converting our accounting package to QuickBooks Online. It goes without saying, this has allowed us to meet more timely reporting deadlines, allows for better decision making and aids us to elevate our overall business results.

Most recently, Cynthia advised and created a management compensation model to the delight of all parties. We are truly thankful to have her timely support when needed as we continue to grow Recruiting in Motion - Mississauga.

Sheri Wray

Partner
Recruiting in Motion - Mississauga

Cynthia Vincze CPA, CMA has been an invaluable asset to the growth and success of my business. She is always quick to get back to me and help me understand my options and she continues to deliver above and beyond my expectations.

Cynthia has helped me take advantage of government grants, found me a better line of credit, manages my payroll, and submits the tax returns for my business and family. She proactively keeps me updated with changes I need to know about … so I feel I’m on top of everything and can focus all my energies to growing my business and being there for my family and friends.

I trust Cynthia on every level and everyone on her team is easy to talk to and great to work with. Cynthia has been a key to my achieving peace of mind, work / life balance, and financial wellbeing.