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Bob Aaron: Taxpayers who sell or who have sold Airbnb units are now on notice: The CRA is watching
A recent ruling serves as a warning to taxpayers to obtain sophisticated tax advice if they plan on changing property use from tax-exempt long-term rentals to taxable short-term rentals like
The market for Airbnb houses and condos is likely to take a significant hit in the wake of a ruling earlier this year by the Tax Court of Canada, which held that the sale of a used residential property rented out on Airbnb is subject to HST on the entire sale price.
