A number of people have asked about this so I thought we should send something out to the community. Credit goes to Richard Muise for prompting the article!
For 2022 only, the Ontario government created an incentive for people to travel within Ontario (staycations). They are allowing you to claim up to $1,000 for an individual and $2,000 for a family. This is converted to a 20% credit against your taxes payable - so $200 for an individual and $400 for a family. In fact, even if you have no taxes payable, you may apply for the credit to generate a refund.
Only one person in the family/household may apply for the credit and you had to be a resident of Ontario as of December 21, 2022.
You may claim expenses for accommodations: hotel, cottage, or camping fees
You may not claim other incidental fees like travel, food, or expenses that are being reimbursed for work or claimed as a business expense on your taxes.
So, did you travel within Ontario last year for any of your motorsport related activities? Did you book a hotel when you went to the Autoslalom Championship event last summer? Did you pay camping fees for a Time Attack event? What about the 5 weekends you spent in Minden in 2022 ice racing? All of these activities qualify for the tax credit.
If you need to know more - Staycation Tax Credit
See you at the track!