If you earn incidental income from renting out a room in your primary residence, the property will remain exempt from Canadian income tax on any capital gain upon sale, as long as:
- no structural changes are made
- capital cost allowance (depreciation) is not claimed
“Please note that the information provided in this article is of a general nature and may not be accurate for your specific situation. The information is current as of the date of posting and is not intended to provide legal advice. It's always recommended that you consult with a professional accountant and lawyer for personalized guidance and advice."