The Province of Ontario increased the Non-Resident Speculation Tax on residential property
25 Oct 2022
Effective 25 October 2022, the Province of Ontario increased the Non-Resident Speculation Tax (NRST) from 20% to 25%. The NRST applies to the purchase or acquisition of interest by foreign nationals (including non-Canadian residents), foreign corporations or taxable trustees in residential property (between one and six single family residences) located in Ontario.
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Type:
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Entry and establishment (Access to land)
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Industry:
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Services (Real estate activities)
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Sources:
