The government of Ontario, Canada has announced an increase in the Non-Resident Speculation Tax rate from 20% to 25% with effect from 25 October 2022. The tax is meant to reduce speculative investment by foreign investors and applies on the price of residential property purchased by foreign nationals, foreign corporations, and taxable trustees.
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Ontario Continues to Crack Down on Foreign Real-Estate Speculation
Government increasing Non-Resident Speculation Tax rate to 25 per cent, th…