What is Ontario’s Foreign Buyers Tax (NRST)?

Disclaimer: This video is not legal advice. Consult with a qualified legal professional for advice tailored to your circumstances.

Are you thinking of purchasing residential property in Ontario, but you’re not a Canadian citizen or permanent resident? You may be subject to Ontario’s Non-Resident Speculation Tax (NRST), also known as the Foreign Buyers Tax. In this video, real estate lawyer Paria Rad explains how the 25% NRST applies to foreign nationals under the Immigration and Refugee Protection Act, and how it impacts joint purchases with residents or citizens.

Ontario real estate lawyer, Paria Rad of Devry Smith Frank LLP and Woitzik Polsinelli LLP has over 13 years of experience in residential and commercial real estate law. If you have questions about your eligibility or obligations under the NRST, contact Paria at paria@durhamlawyer.ca or at 905-668-4486.