If you regularly rent out your home on Airbnb or other short-term rental platforms, expect to be hit with a hefty tax when you sell it. The Tax Court…
If you regularly rent out your home on Airbnb or other short-term rental platforms, expect to be hit with a hefty tax when you sell it.that homeowners in Ontario who frequently rent their properties as short-term rentals are subject to paying 13 per cent HST when it's put up for sale.
It would be applied to the home's total price when sold, meaning homeowners could be taxed tens or hundreds of thousands of dollars. "This decision highlights the need for property owners to carefully consider the tax consequences of changing property usage," reads a"The court's ruling emphasizes that properties used primarily for short-term rentals, such as those listed on platforms like Airbnb , may not qualify for the residential complex exemption and may therefore be subject to HST."
He made $11,200 in 2017 and $43,179 in 2018 through the short-term leases. In April 2018, he sold the residence, which was still a short-term rental on Airbnb, without paying HST.
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