![]() ![]() Whenever you earn income from renting your home, you need to report the gross rental income and related expenses on your tax return.įor income tax purposes, a distinction is made between income from property and income from business, and it's not always easy to determine which classification applies to your rental income. ![]() Let's take a closer look at the income tax and GST/HST considerations that affect the finances of Canadian short-term hosts. When joining this growing marketplace, you should consider the tax implications. Thousands of Canadians are renting out their home or secondary property-using Airbnb or another online platform. Have you taken advantage of the surge in demand for cottage rentals and rented out your cottage or summer home? If so, you're not alone. Strategies and support for a continuously evolving marketplace. ![]() Technology, Media, and Telecommunications Helping real estate and construction companies thrive in every economic environment.īDO guides consumer businesses as they navigate the complexities of a rapidly evolving marketplace. Navigating strategic and operational transformations through tailored guidance on sound financial and risk management practices. Navigating the Challenges in Professional Services Our dedicated Private Equity Practice offer a full spectrum of services to help navigate today’s complex and global business environment. Practical advice to help organizations succeed in a highly competitive environment. Providing clients with the tailored guidance and resources they need to compete domestically and internationally.ĭeep industry experience to help clients navigate challenges at home and abroad. Our partner-led practice group provides an integrated suite of services to help our Indigenous clients. In a market with complex regulatory requirements, BDO’s efficient, tailored approach turns risks into opportunities. Our professionals combine hands-on farm experience with strategic and financial insight.Ĭombining vertical industry alignment with cannabis business services in Canada and internationally. ![]()
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