Don't forget that you need to collect and pay GST as well. The tax rate is 3% on long term rentals but there is a minimum amount which I can't remeber at this time. GST is 10%
Re: Tax on rentals more than 6 months
[Re: TravelinMan1]
#345944 07/23/0909:46 AM07/23/0909:46 AM
I am the renter and will be renting for more than 6 months. My landlord is telling me that I am required to pay tax on my rent for the first 6 months and then no tax. Other people have told me there is no tax to be paid by the renter if more than 6 months. Any help to clarify this would be appreciated
Retired and loving it
Re: Tax on rentals more than 6 months
[Re: marvins]
#345965 07/23/0911:08 AM07/23/0911:08 AM
The landlord appears to be trying to pass any tax liability on to you. This topic has been recently discussed at: //ambergriscaye.com/forum/ubbthreads.php/topics/324248/Rental_Condo_Owners_Being_Flee.html#Post324248
Happy reading.
Moose Keep an open mind and something good may fall in.
So if I am understanding your replies correctly being a long term renter for more than 6 months I do not have to pay sales tax ( hotel tax )on my apartment.
Retired and loving it
Re: Tax on rentals more than 6 months
[Re: marvins]
#345979 07/23/0912:21 PM07/23/0912:21 PM
It might depend on your lease agreement. If you are month to month, then it could make some sense to charge you tax on the first 6 months. If you have a 6 month or longer lease, then it does not IMO.
Now back to your regularly scheduled drivel...
Re: Tax on rentals more than 6 months
[Re: deadserious]
#346004 07/23/0902:02 PM07/23/0902:02 PM
GST is only required if rental revenue grosses more than $75,000 BZ per year. Hotel Tax is required if your lease is less than 6 months. I have never heard of a tenant having to pay the business tax of 3%, but I suppose anything is negotiable.
marvins, if you are signing a 6 months lease, you do not have to pay tax. deadserious is correct though, if your lease is month to month you may be liable for 9% tax.
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