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Seniors and students
Although not all homestay agencies issue official tax slips (such as a T4A), homestay income is a taxable income in Canada, with any related expenses deductible.
If you receive income as a homestay host, you should report it as "Self-Employed Income" on a T2125 - Statement of Business Activities. You will be able to claim any expenses incurred here as deductions and that will offset some of that income.
‎October 31, 2019
1:59 AM