Whereas it is possible for homeowners to rent out a room or secondary suite within their primary residence on a long-term basis, which can help make existing housing supply available to meet local housing needs, and under current Canada Revenue Agency CRA requirements homeowners must track detailed receipts, apportion household expenses, and comply with small-business accounting practices; And whereas the administrative burden associated with these CRA reporting requirements can discourage homeowners from offering or maintaining long-term rental accommodation within their primary residence: Therefore be it resolved that UBCM urge the Government of Canada and the Canada Revenue Agency to simplify tax reporting requirements for long-term rental of a room or secondary suite within a primary residence, including consideration of a simplified reporting method or standard deduction option, while maintaining existing CRA classification rules and preserving the authority of local governments to regulate use, licensing, and zoning separately from federal tax reporting requirements.
