Short-term rental website Airbnb will be responsible for collecting taxes from B.C. homeowners as part of an agreement between the company and the province.
Finance Minister Carole James announced Wednesday that provincial sales and local tourism taxes will be collected through Airbnb’s platform.
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Once regulations are in place, Airbnb will collect 8 per cent PST and up to 3 per cent municipal and regional district sales tax on all accommodations rented out through its site.
The province estimated there are approximately 18,500 Airbnb listings in B.C., which could have brought in about $18 million in sales taxes had the legislation been in place last year.