The relatively new tax ruling comes following a decision earlier this year from the Tax Court of Canada that says properties that are consistently rented out on short-term listing platforms are subject to HST on the property when they sell it. This could equal hundreds or thousands of dollars in tax.

The tax rules apply for any property type, including condos, townhomes and single-detached homes, as long as they are being consistently used for short-term rentals (less than 28 days) on platforms like Airbnb and VRBO. The tax implications also apply to short-term rentals that are furnished with utilities included, and if the property resembles a hotel-like business model