Confused about the proposed new foreign homebuyer tax? We can help! This 15% tax would apply to “buyers who are not Canadian citizens or permanent residents, non-Canadian corporations and taxable trustees for purchases of residential property in the Greater Golden Horseshoe area.” It would NOT apply to refugees, a principal residence for a foreign national under the Ontario Immigrant Nominee Program, joint purchases with a canadian citizen, or “purchases by a trustee of a mutual fund trust, real estate investment trust or specified investment flow-through trust.” At Kawartha Waterfront Realty, we are here to help you through the homebuying process!
TORONTO — A 15-per-cent non-resident speculation tax proposed by the Ontario government Thursday forms a key plank in the province's plan to cool the hot housing market in its southern cities.
Confused about the proposed new foreign homebuyer tax? We can help! This 15% tax would apply to “buyers who are not Canadian citizens or permanent residents, non-Canadian corporations and taxable trustees for purchases of residential property in the Greater Golden Horseshoe area.” It would NOT apply to refugees, a principal residence for a foreign national under the Ontario Immigrant Nominee Program, joint purchases with a canadian citizen, or “purchases by a trustee of a mutual fund trust, real estate investment trust or specified investment flow-through trust.” At Kawartha Waterfront Realty, we are here to help you through the homebuying process!