What form or statement should a homestay agency provide to their registered families for the amount transferred to them for hosting international students?

[TurboTaxKim · Accepted solution]

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.