![]() Should I voluntarily register for GST/HST? One of the most common oversights we see is forgetting to include any other associated business revenue into the small supplier test. ![]() A small supplier is one whose worldwide annual GST/HST taxable supplies, (including zero-rated supplies and including the sales of any associated parties) are less than $30,000, or less than $50,000 for public service bodies (colleges, non-profit organizations, charities, hospitals). If you are supplying short-term rentals, you will need to determine if you are considered a small supplier for GST/HST purposes. The volume of rental income and the length of the rentals is the determining factor on whether you will need to charge GST/HST.Įssentially, long term-rentals are exempt from GST/HST, while short-term rentals are subject to the tax.Ī short-term rental is generally one where the period of occupancy is less than one month and the consideration for the supply is more than $20 a day. One aspect of venturing into the short-term rental game is how GST/HST applies. The popularity of Airbnb, short-term rental pools for cottages and vacation properties continues to grow. Posted on August 26th, 2022 in Tourism & Hospitality, Commodity Tax (HST), General Business How Does GST/HST Apply to Airbnb/Short-term Rentals?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |