
April 15th, 2025
Short-term Rentals & GST/HST: The Hidden Tax Trap on Condo Sales
Switching to and from Airbnb or another form of short-term rentals can result in a GST/HST bill when a condo is sold or there is a change in use.
Posted on August 8th, 2025 in Domestic Tax
A June 18, 2024, Technical Interpretation discussed the tax treatment of losses resulting from a personal scam, as opposed to an investment scam. Two examples of personal scams were provided, as follows:
CRA noted that there is no tax relief specific to fraud. In some instances, a capital loss or even a business loss may result from investment scams. However, a loss incurred by a victim of a personal scam would generally not result in a loss from employment, business, property, or a business investment loss as there is no income-earning activity related to the loss.
The property that is lost is generally personal funds that would likely be considered to be capital property. The lost cash would normally be personal use property, such that any losses would be deemed to be nil.
Be mindful of falling victim to fraudulent scams. There is no tax relief with respect to losses resulting from personal scams.
Article originally published in: Tax Tips & Traps 2025 Second Quarter – Issue 150.
Drop us a line, we look forward to hearing from you.