Underused Housing Tax Act

Marginal note:Return required

• 7 (1) A person that, on December 31 of a calendar year, is an owner of a residential property (other than an excluded owner of the residential property) is required to file a return for the residential property for the calendar year.

• Marginal note:Return not required — regulations

  (2) Despite subsection (1), a person is not required to file a return for a residential property for a calendar year if the person is a prescribed person or if the residential property is a prescribed property.

• Marginal note:Return required — regulations

  (3) Despite subsection (1), a person is required to file a return for a residential property for a calendar year if the person is a prescribed person.