Diego, Karen & Rodrigo Balcazar
RE/MAX Escarpment
Languages
- English
- Spanish
Specialties
Business Opportunities, Buyers, Condominiums, Downsizing, First Time Buyers, First Time Sellers, Investments, Multi-Family, New Builds, New Construction, Relocation, Rentals, Residential, Sellers
Locations
Ancaster, Brantford, Burlington, Caledonia, Dundas, Grimsby, Hamilton, Milton, Niagara Falls, Niagara-on-the-Lake, Oakville, St. Catharines, Stoney Creek, Thorold, Waterdown
Ontario Non-Resident Speculation Tax rate rises to 25 per cent
Effective October 25, 2022, the Non-Resident Speculation Tax (NRST) rate increased from 20 per cent to 25 per cent.The NRST applies on the purchase or acquisition of an interest in residential property located anywhere in Ontario by foreign nationals (meaning those who are not...
Nov 07, 2022
Effective October 25, 2022, the Non-Resident Speculation Tax (NRST) rate increased from 20 per cent to 25 per cent.
The NRST applies on the purchase or acquisition of an interest in residential property located anywhere in Ontario by foreign nationals (meaning those who are not Canadian citizens or permanent residents of Canada) or by foreign corporations or taxable trustees.
The NRST applies in addition to the general Land Transfer Tax (LTT) in Ontario.
The government recognizes that some purchasers may have already signed agreements of purchase and sale that do not close for a few months or longer. There are transitional provisions available for certain transfers of land conveyed pursuant to agreements entered into on or before October 24, 2022.
For more information, visit the Government of Ontario website.
Contact us for more detail information!