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Hey ! I would definitely consult an accountant or tax lawyer but based on the CRA website, If you're doing Airbnb for less than 50% of the year in your primary residence which is the case here at 180 days/365 days per year - then you shouldn't need to pay the 13% HST when you sell your home. This is regardless of how much money you make. Hope that helps!

@@Fadynakhlarealestate Then what about 90 percent threshold they talked about ? what is that thing ?

​​⁠Straight from the CRA website, “The purchase of a vacation property is also taxable where the property is not used primarily (more than 50%) as the vendor's place of residence and all or substantially all (90% or more) of the rentals of the property are for periods of less than 60 days” So if the property is NOT your primary residence and is used 90% or more of the time as a short term rental, meaning a majority of the time you rent it, it’s nightly as a short term rental, then HST will be due on the sale. So this will not apply to any property in Toronto as the city bylaws require the unit to be your primary residence and only allow you to short term rental for maximum 180 nights per year

As someone who owns properties I do not agree!!! 😂 and the less people who own properties means that there is also less rentals for people!

@victoriam597 the government wants money. Someone has to pay them to keep up their spending. It's either your properties or your incomes. I think the choice is very simple. As for housing supplies, do you really think the Canadian government cares? We can all live in gutters, as long as the government gets the money

I think the reality is the government is going to tax your income whether you own properties or not. EVEN if they took 13% HST on all property sales, I very highly doubt anyone would get a tax break because like you said, they just want the money.

Hi Kristel, the property must be your primary residence if you want to Airbnb. So if you own multiple properties, the one you want to Airbnb must be your primary residence or else it is not allowed. If you want to discuss further you can email, text or call me - my contact info is all in the description of this video. Thanks !

Hey Jay, that is a great question! Once you have multiple properties you become fairly limited with what you can do. My contact information is in the description of the video, you can email, text or call me and we can discuss your options further

That's a great question ! We'd need to consult a tax lawyer for this very specific case but my opinion on this would be - if the tenant is using the unit for Airbnb and it qualifies for an exemption, same as ownership, in terms of the unit being their "primary residence" and they've rented for less than half the year (50%) short-term rental - then when the seller goes to sell, there will be no HST on the sale. In Toronto, whether you're an owner or tenant, you must follow those rules. However if you're in another municipality or in cottage country where there is no limit, and your tenant is primarily using the unit to run an Airbnb - I believe you as the owner will be responsible for paying HST when you sell the property especially if the tenant was claiming that Short-term rental income - because the property will still be classified as "commercial", regardless if it was by you as the owner or not.

Hey! Great question. The recent tax change mostly impacts people who rent out their place full-time on Airbnb or own multiple Airbnb properties. In Toronto, you can only rent out your primary residence on Airbnb for up to 180 nights a year nightly. If you stick within that limit-meaning it’s your main home and you’re renting it out less than half the year (180 nights would technically be 49% of the year)-you won’t get hit with that extra 13% HST when you sell. Also, it’s worth mentioning that most cities outside of Toronto are adopting similar rules. So this really only impacts people doing Airbnb in places set up as full-time vacation rentals, like cottages for example. As long as you're not in those cottage areas and you're following the local rules of your city, in this case Toronto, you should be in the clear!

Thank you for sharing your thoughts! Pros and cons definitely weigh differently for everyone. What might be a big con for one person could be a minor issue for someone else, and vice versa. It all depends on what matters most to each individual! Thanks for sharing your perspective.

Hi Tania, you are allowed to Airbnb a rental property if it's your primary residence - it is permitted by the city of Toronto however of the buildings that allow STR, some of them require that you are the owner. So even though the city allows it, only some buildings allow it

Sorry it seems some of them do mention it on looking at a few more, my bad.

@@kylehigh2488 No worries ! You had me double checking as well when I read your comment. But yes 155 Yorkville does still allow it. I'd always just double check the status certificate to see it in writing before making any move. If you do want to chat further or have any other questions feel free to reach out at fadynakhla@royallepage.ca and I'd be more than happy to help 😀

Hi! Email me at fadynakhla@royallepage.ca and we can have a chat ! Thanks

Email me at fadynakhla@royallepage.ca and I’ll send you the list of condos. Airbnb arbitrage is legal in Toronto but not worthwhile in my opinion. The unit must be your primary residence so even if you’re able to do it , you can only do it with your one unit. You’ll need a regular short term rental lisence same as if you owned the property.

Thanks So it’s not possible to run an arbitrage subletting multiple apartments in Toronto ?

Hi ! It depends where your home is located, every city has it's own rules and regulations. If you're in Toronto then you can only Airbnb your principal residence

Hi ! Glad you found the video useful! You can reach out to me using my email at fadynakhla@royallepage.ca or text me at 647-867-1763 and I’ll send that list over along with any other information you may need. Thanks !

Hi U can't rent more than 6 months I toronto.unit has to be primary house. If u agree the above then according to cra wen u sell that unit even though it's primary unit..u need to pay cap gain on sale price Right?

@thesammuthusamy Hi Sam! If the home is your primary residence, which it must be to Airbnb, then when you go to sell you will not have to pay capital gains as you’ll still be eligible for the primary residence exemption. Thanks !

Email me at Fadynakhla@royallepage.ca and I’ll send it over. Thanks!