Filing taxes when renting out a room in your apartment.

[Sadie14]

I am renting out the spare bedroom in my apartment in Kitchener Ontario. Ususally just a few nights a month. My question does this count as a sort of business income or am I just subletting or subsidizing my rent?

Will I need to set aside a portion of the money I earn for taxes or does air bnb do this automatically? I have just started renting but want to make sure I know what to expect. 

Thank you!

[Helen427]

Hello Sadie

You may like to contact your local Tax Dept to establish any legal obligations.

Alternatively you may like to look up posts in here by your fellow countrymen & women using keywords like Canada etc.

I hope you have included your own hourly worth in your pricing, and ignore the pricing suggestions they pop under our noses to lower them if its quiet...

You may also like to ensure you include a reference to Instant Bookings and pre approvals because if you have IB on you may get lots of IB including by those who want to stay longer term that are better to be more closely verified for compatibility etc.

Feel free to look at my listing re IB.

It pays to err on the side of caution as there's good and bad people everywhere.

All the best.

[Ann526]

I am very new to this myself and was wondering the same thing regarding taxes! Hope someone can put us in the right direction concerning this! 

Thx

[Sadie14]

Hopefully!! So far i've found nothing concrete.