GST, or Goods and Services Tax, and Harmonized Sales Tax (HST) in Canada, are value-added taxes applied to selling goods and services. Short-term rentals (typically less than 30 days) are considered taxable supplies under GST/HST, meaning PMs must register, collect, and remit the tax if they surpass revenue thresholds. While long-term rentals are exempt, short-term rentals in certain countries (e.g., Canada, Australia, New Zealand) are subject to tax and must be charged by PMs to the owner.
Since GST/HST taxes are only included when creating owner statements, it is particularly important to include them, as it allows PMs to apply an additional tax, including GST/HST, against certain owners or properties and specific expense categories (e.g., cleaning, commission, etc.), with the option to assign it granularly to bookings, properties, or just the owner statement, allowing it to be automatically generated and displayed in the Expense section of Owner Statements.
Add your Statement Tax by navigating to PMv2 > PM Settings > Statement Taxes > + Create Statement Tax, allowing you to configure your Statement Tax to apply to specific owners or properties, specific expense categories (e.g., cleaning, commission, etc.), and includes the option to assign it granularly to bookings, properties, or just the owner statement,
When configured, this new Statement Tax is automatically generated and displayed in the Expense section of Owner Statements.