Airbnb Rental Income Tax Considerations

Airbnb Rental Income Tax Considerations First question: Is this considered a rental income or business income? If you are considering getting into the Airbnb business, one of the first things you will need to figure out is whether this will be declared as a rental or as a business income. However, in the majority of…

Principal Residence Exemption and Capital Gains Tax

Principal Residence Exemption and Capital Gains Tax: Contrary to the popularly held belief that any capital gain – or increase in value – made on a primary residence is not taxable, in Canada it is ! However, there is a stipulation in the Canadian Income Tax Act know as the: ”Principal residence exemption” which allows…