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canada property tax laws

Ontario’s Non-Resident Speculation Tax

June 22, 2017

Last year, the British Columbia province government introduced the 15% Foreign Buyers Tax to curb the rising housing prices. Following suit, on April 20, the Ontario government announced a similar 15% non-resident speculation tax to cool the hot housing market in its southern cities. Here is an overview of Ontario’s 15% non-resident speculation tax, and its...

CRA Tax news Tax planning

Newly Introduced 15% Property Transfer Tax In Greater Vancouver, BC

July 26, 2016

On July 25th 2016, the British Columbia government introduced an additional 15% property transfer tax on the fair market value (FVM) of residential property transfers to foreign entities (i.e. foreign nationals (not Canadian citizens or permanent residents), foreign corporations (not incorporated in Canada or if incorporated but the majority control is a foreign entity unless listed on...