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Returning Member
posted Jul 19, 2021 10:47:24 PM

AirBnb Income Tax on Primary Residence

I recently started hosting my backyard carriage house through AirBnb. I am new to rental income and don't want to forfeit my primary residence exemption on capital gains. What would be wisest to claim as expenses (if anything) and what should I avoid claiming? Is there anything significant I should know prior to filing my taxes on this?

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Level 3
Oct 26, 2021 9:42:45 PM

In the eyes of the CRA, any income earned by renting out your home or other property is considered to be rental income – even if it’s just for a night or two, every once in a while.  

Here is what you should know about Airbnb prior to filing your taxes. 

 

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