Hi @Jamie1159
There is not a lot of information out there right now and time will tell if this ever becomes a thing. I understand that as long as you are following regulations for your area, you have nothing to worry about. This is meant for those not following regulations and is meant to punish them by not allowing them to write of things to their place under the "rental income" category of their taxes. This is a good quote which explains it well.
"The tax changes will take effect in 2024 and only apply to operators that are not abiding by provincial and municipal rules governing short-term rentals."
I actually think this is a great thing however I am skeptical about how they are going to police this.
Other than that, we know very little and the media is just repeating the limited information that was shared.
David
Superhost Ambassador ~ Host Club Community Leader ~ Community Expert ~ Experienced Co-Host