Tax Insights: Ontario imposes new 15% tax on foreign buyers of residential property

Issue 2017-19

Foreign purchasers of residential property in the Greater Golden Horseshoe will be liable for a new 15% non-resident speculation tax. The new tax will apply to agreements of purchase and sale signed after April 20, 2017. It will apply in addition to Ontario’s general land transfer tax and Toronto’s land transfer tax.

Read this Tax Insights for more information.
 

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