CRA Extension for Filing: Penalties and interest for late-filed UHT returns are waived if filed by April 30, 2024, for the 2023 year.

Applicability of UHT: Affects those who own residential real estate in Canada through a corporation, partnership, or trust, and not personally. Applies to non-Canadian citizens or non-permanent residents owning residential real estate in Canada. Requirement to File UHT Return: Mandatory for all residential property owners in Canada as of December 31, 2022, unless exempt. Due date: April 30 of the following year (e.g., April 30, 2024, for 2023). Exclusions from Filing: Canadian citizens or permanent residents owning property personally. Various entities like publicly traded Canadian corporations, registered charities, and Indigenous governing bodies. Penalties for Non-Compliance: Failure to file by April 30: Minimum penalty of $5,000 (individuals) or $10,000 (corporations), plus additional percentages of the tax payable.