Vacancy Rebates – Get Them While You Can!!

 

Vacancy rebates are on their way out! The City of Toronto will be phasing them out this year.

The deadline to file a vacant rebate for tax year 2017 is February 28th, 2018.

The last date to file a vacant rebate for the first half of 2018 is September 28th, 2018.

Many other municipalities around the province have also chosen to discontinue this rebate, since they were given the power to do so last year.

This is an automatic tax grab by the municipalities. By eliminating the vacant rebate program, they eliminated the former Business Tax Allowance on vacant space.

What qualifies as vacant?

The wording is actually “not used” space rather than vacant space. So, irrespective of whether there is a lease or not, if it’s used, it cannot be claimed vacant for that stretch of time.

Click for more info – City of Toronto Conclusion of the Vacant Unit Rebate Program