NON-RESIDENT SPECULATION TAX
A 15-per-cent tax will be applied to the purchase of a residential property in the Greater Golden Horseshoe area, in addition to the general land transfer tax.
The Non-Resident Speculation Tax (NRST) is a 15 per cent tax on the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe Region (GGH) by individuals who are not citizens or permanent residents of Canada or by foreign corporations (foreign entities) and taxable trustees.
The NRST applies in addition to the general LTT in Ontario.
The GGH includes the following geographic areas:
-
City of Barrie
-
County of Brant
-
City of Brantford
-
County of Dufferin
-
Regional Municipality of Durham
-
City of Guelph
-
Haldimand County
-
Regional Municipality of Halton
-
City of Hamilton
-
City of Kawartha Lakes
-
Regional Municipality of Niagara
-
County of Northumberland
-
City of Orillia
-
Regional Municipality of Peel
-
City of Peterborough
-
County of Peterborough
-
County of Simcoe
-
City of Toronto
-
Regional Municipality of Waterloo
-
County of Wellington, and
-
Regional Municipality of York.