B.C. and Airbnb reach tax collection deal to help fund province’s housing plans
VICTORIA — The British Columbia government says it will soon profit from the short-term rental market after reaching an agreement with Airbnb on the collection of taxes.
The money will be used to fund housing and tourism initiatives.
Finance Minister Carole James touted the deal with Airbnb as the first of its kind in Canada, saying it acknowledges short-term rentals are part of B.C.’s economy.
“It recognizes the reality today, not only in B.C. but across the country, in fact across our world,” she said. “The sharing economy is here. We need to make sure as governments, that we look at our tax systems, that we look at our arrangements we have in place and we make sure we create that level playing field.”