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.
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.
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