no canada thread so dumping here.   axman-coming-for-our-homes governments say short-term rentals squeeze out long-term renters, worsening the housing crisis. but homeowners who switch from short- to long-term rentals face a catch-22. under cras new change-in-use rules, theyre deemed to have sold their home to themselves and must pay hst on the full market value. in ontario, where the hst rate is 13 per cent, a $1-million home yields a $130,000 windfall for cra. to make matters worse, if the homeowner later decides to stop renting and go back to living in his home, its deemed to have been sold at fair market value, making any appreciation a taxable capital gain. because the change-in-use rules are new, ill-defined and untested, homeowners are bound to get trapped in their contradictions, which are talmudic in nature, says accountant and tax lawyer david rotfleisch. > homeowners are bound to get trapped in their contradictions, which are talmudic in nature, says accountant and tax lawyer david rotfleisch.
Nazi