Ontario Property Tax Rebates | KPMG | CA

Ontario Property Tax Rebates - Apply by February 29, 2016

Ontario Property Tax Rebates

Canadian Tax Adviser, January 26, 2016. Taxpayers who own or lease commercial or industrial properties in Ontario may be able to reduce their property tax costs by claiming available property tax rebates. In addition, registered charities that own or lease, and occupy space in a commercial or industrial building, may also be eligible for a rebate.

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To qualify, taxpayers will need to submit their application for the 2015 taxation year with the relevant municipality by the February 29, 2016 deadline in order to take advantage of these potential savings.

Application for Vacant Unit Rebate

If a commercial or industrial property was vacant for all or part of 2015, was undergoing repairs or was in need of repairs, or was unfit for occupation, the owner may be eligible for a property tax rebate for the period of the vacancy. Among other criteria, the unit must have been vacant or unusable for at least 90 consecutive days in order to be eligible for the rebate.

Application for Cancellation, Reduction or Refund of Property Taxes

A property owner can apply to the relevant municipality to cancel, reduce or refund their property taxes for several reasons, including the following:

  • The property ceased to be liable to be taxed at the rate it is taxed
  • The land became vacant or excess land during the year 
  • The land became exempt from property tax during the year
  • Fire or demolition prevented the normal use of the land
  • The property owner was overcharged taxes due to a gross or manifest clerical error.

Property Tax Registered Charity Rebate Application

Charities that are currently registered under the Income Tax Act and that own or lease and occupy space in a commercial or industrial building may be eligible for a rebate of up to 40% of the property tax on such space.

For more information, contact your KPMG adviser.

Disclaimer

Information is current to January 26, 2016. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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