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It’s a valid question that I get when discussing investment properties with investors. There is a criteria that is outlined by the government of Canada and following are some highlights of it.
Please note that I’m not a tax accountant and the post is for informational purposes only. Please verify the information you’re relying on and consult with an accountant.
- Rental of a residential unit in a residential complex are exempt when used as primary residence or lodging
- Where the consideration for rental is less than $20 per day
- If the period of occupancy is continuous regardless of the length of lease
- Accommodations in non-residential complex are
- Taxable usually regardless of duration
- Exempt if rent is $20 or less per day
- A hotel or motel doesn’t usually qualify as residential complex
As mentioned earlier, this is just for quick reference. For detailed information, please click below to review the source.