DO THIS to PAY LESS TAXES in Canada in 2025 - TOP 3 STRATEGIES

Summary

This video, while framed for a general Canadian audience, provides highly relevant tax strategies for STR hosts. CPA Michael Kim outlines three key ways to reduce taxes: using registered accounts (RRSP, TFSA, FHSA), generating business/rental income to enable expense write-offs, and strategically using real estate. For hosts, the most critical takeaways involve understanding the tax advantages of business income over employment income and the various deductions available for rental properties, including a warning about recent changes to capital gains tax in Canada for 2025.