FIFA World Cup 2026 & Your Wallet: How to Cash In Right Now

 

The biggest sporting event in history is happening right now in Canada. Here's what it means for your money — whether you own property, rent, or just want to watch.

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The 2026 FIFA World Cup kicked off on Canadian soil on June 12 — and whether you've been following the matches or not, this tournament is already leaving a mark on Canadian wallets. Toronto and Vancouver are hosting games through July 19, and the economic ripple effects are very real: in hotels, short-term rentals, restaurants, and yes, your tax return.

If you're a homeowner — especially in Toronto or the GTA — there's still time to benefit. And if you're simply a Canadian taxpayer, it's worth knowing exactly what this tournament is costing us, and what we're getting back.

Here's everything you need to know about the FIFA World Cup and your money.

The Big Picture: What This Tournament Is Worth to Canada

FIFA projects that hosting the World Cup will contribute up to CAD $3.8 billion in economic output for Canada over the period from 2023 to August 2026. That includes an estimated $2 billion in GDP contribution, $1.3 billion in labour income, and $700 million in government revenue, along with the creation of roughly 24,100 jobs nationwide.

The tournament is split between Canada, the U.S., and Mexico, with Canada hosting 13 of 104 total games — six in Toronto and seven in Vancouver — running from June 11 to July 19.

By The Numbers

• 146,000 international fans expected in Toronto
• 204,000 international fans expected in Vancouver
• $540M projected from Airbnb guests in Toronto & Vancouver combined
• 80% surge in Airbnb searches for World Cup host city stays
• $3.8B total projected economic output for Canada

The Taxpayer's Tab: What Canadians Are Actually Paying

Before we get to the opportunity side, let's be honest about the cost. According to the Parliamentary Budget Officer (PBO), total government spending to co-host the 2026 World Cup is estimated at $1.066 billion. The federal government is covering $473 million, with the remaining $593 million split between provincial and municipal governments.

That works out to roughly $82 million per game — which the PBO notes is broadly in line with previous World Cup hosting costs globally.

For Toronto specifically, total city-level hosting costs are expected to hit $380 million (including federal grants), while Vancouver's tab comes in at roughly $578 million. Critics have noted that, as per FIFA's standard host agreements, most broadcasting rights, sponsorship revenue, and hospitality income flows to FIFA's headquarters in Switzerland — not to the host cities that foot the bill.

That's worth keeping in mind. But for individual Canadians — particularly property owners — the economic activity being generated right now is very real and accessible.

The Homeowner's Opportunity: Short-Term Rentals & Airbnb Income

This is where it gets interesting for Ontario property owners.

According to Deloitte data commissioned by Airbnb, Toronto hosts could earn approximately $2,700 CAD on average by renting out their space during the tournament. In Vancouver, that figure jumps to around $4,200 CAD per host.

Airbnb also launched what it called its "biggest new host incentive ever" — a $1,000 CAD (~$750 USD) bonus for anyone in a World Cup host city who signs up and welcomes their first guests by July 31, 2026. If you're in Toronto and haven't listed yet, the deadline is still weeks away.

Demand is surging: searches for World Cup stays on Airbnb are up 80% year-over-year, and roughly one in six guests booking in North American host cities are first-time Airbnb users. The top-performing Toronto neighbourhoods right now include East York, Etobicoke-Lakeshore, and Trinity Bellwoods.

As a point of context, during Toronto's 2015 Pan Am Games, Airbnb hosts saw occupancy rates climb over 30% and nightly rates rise between 20–40%. The World Cup is a significantly larger event.

Before You List: The Rules Ontario Hosts Must Follow

Short-term rentals are legal in Ontario, but Toronto has strict regulations you must understand before you list. Skipping these steps isn't just a risk — it can cost you more at tax time than you earned.

1. Principal Residence Only

Toronto only allows short-term rentals of your primary home. You cannot list a second property, investment property, or vacant unit as a short-term rental in the city. This is a hard rule, and Airbnb is required to block non-registered listings.

2. Registration Is Mandatory

You must register your property with the City of Toronto as a short-term rental before listing. No exceptions — and it's a condition of receiving Airbnb's $1,000 CAD host incentive as well.

3. The 180-Night Annual Cap

Toronto limits short-term rentals to 180 nights per year. Plan your hosting window accordingly, especially if you've already had guests this year.

4. Municipal Accommodation Tax (MAT)

Toronto currently charges a Municipal Accommodation Tax (MAT) of 8.5% on short-term rental income — temporarily increased from 6% between June 2025 and July 2026 specifically to help fund World Cup infrastructure. This is in addition to HST. You must collect this from guests and remit it to the city quarterly.

⚠ Important

Since 2024, the CRA denies all expense deductions on non-compliant short-term rentals. If you are not properly registered and you earn $12,000 in rental income with $8,000 in expenses — you are taxed on the full $12,000, not the $4,000 net. Compliance isn't optional; it's financially critical.

The Tax Reality: What CRA Wants From Your Airbnb Income

Let's be clear: all Airbnb income is taxable in Canada. There is no minimum threshold. Even renting a room for a single weekend must be declared. The CRA receives income reports directly from Airbnb under international tax transparency rules, so there is no hiding it.

How to report it

Most hosts report Airbnb income as rental income using CRA Form T776 (Statement of Real Estate Rentals). You pay tax on net income at your marginal rate. If you provide extra services — daily cleaning, meals, tours — the CRA may classify your income as business income instead, requiring Form T2125 and potentially CPP contributions.

What you can deduct

The good news is that compliant hosts can deduct a reasonable proportion of: mortgage interest, property taxes, home insurance, utilities, cleaning costs, Airbnb service fees, and repairs related to the rental. If you're renting a portion of your home, you prorate expenses based on the percentage of your home's square footage and the number of nights rented.

GST/HST threshold

Once your gross Airbnb revenue exceeds $30,000 over four consecutive calendar quarters, you must register for GST/HST, charge 13% HST to guests in Ontario, and remit it to the CRA. Short-term rentals under 30 days are always a taxable supply — there is no residential exemption at this duration.

Keep your records

The CRA requires you to keep all supporting documentation for six years from the end of the tax year. That means all booking records, Airbnb payout summaries, expense receipts, and municipal registration documents through 2032 for 2026 income.

Tax / Fee	Rate	Who Handles It
Income Tax (on net rental income)	Your marginal rate	You (T776)
HST (Ontario)	13% (if over $30K)	Airbnb collects if not registered
Toronto Municipal Accommodation Tax (MAT)	8.5% (until July 2026)	You (quarterly remittance)

If You're Attending Games: How to Budget Smart

Not everyone has a spare room — but if you're attending a match or watching in the city, prices are elevated. Here's how to keep your World Cup spending under control:

• Book accommodation outside the core — About 85% of available Airbnb listings in Toronto are still under $500/night. Look in Scarborough, North York, or Mississauga and take transit in.
• Transit, not Uber — Surge pricing around BMO Field on match days is significant. The TTC is your cheapest bet, though expect crowding.
• Pre-game meals away from the stadium — Restaurants within the "commercial exclusion zone" around BMO Field operate under FIFA pricing controls. Walk two blocks.
• Set a fan zone budget — Toronto's free fan zones are great, but they're designed to get you spending. Set a cash limit before you go.
• Watch non-Toronto games at home — Bars are charging covers for many group-stage matches. Games not involving Canada or popular teams are easy and free to catch on TSN or CTV.

The Bottom Line

The 2026 FIFA World Cup represents a genuine, time-sensitive income opportunity for Ontario homeowners — particularly those in Toronto with a spare room or secondary suite in their principal residence. With an average potential earning of $2,700 CAD per host and a $1,000 CAD Airbnb incentive still on the table until July 31, the math is worth running.

But the opportunity only pays off if you do it by the book. Register with the city, understand your MAT obligations, track every expense, and report your income to the CRA correctly. The enforcement environment has tightened, and non-compliant hosts pay more tax than they earned in profit.

The World Cup is here until July 19. If you're going to act, the window is now.

This article is for informational purposes only and does not constitute financial, legal, or tax advice. Short-term rental regulations and tax rules vary by municipality. Consult a licensed accountant or tax professional for guidance specific to your situation.