this GST thing is most fascinating! I have asked around several times how people over 30k seem to collect it, but almost all of the answers imply 'add it into your pricing'! Uh, you can't as I see it, if audited, CRA will take your reported income from airbnb and then expect gst reported over that. I don't see them accepting a 'note in your listing' that 5% is included, but maybe I'm wrong. The way I look at it and my accountant agreed, what separates someone reporting $25000 with no GST, from someone reporting $35000 but they fudged the GST into that number? Essentially the one reporting $35000 would be getting taxed on $1666 less income than they should be ($33333x0.05=35000). While the guy with 25000 is taxed the whole amount?
It's a small amount essentially, unless you run multiple properties in which case its a pretty big number. My accountants says it should be on top, but I'd love a 2nd opinion to understand.