effective October 25, 2022, the Non-Resident Speculation Tax (NRST) rate was increased to 25 percent. The NRST applies to the purchase or acquisition of an interest in residential property located anywhere in Ontario by individuals who are foreign nationals (individuals who are not Canadian citizens or permanent residents of Canada) or by foreign corporations or taxable trustees.
The NRST applies in addition to the general Land Transfer Tax (LTT) in Ontario.
From March 30, 2022, to October 24, 2022, (inclusive) the NRST rate was 20 percent applied on the purchase or acquisition of an interest in residential property located anywhere in Ontario by individuals who are foreign nationals or by foreign corporations or taxable trustees.
Prior to March 30, 2022, the NRST was a 15 percent tax on the purchase of an interest in residential property in the Greater Golden Horseshoe Region (GGH) of Ontario by individuals who are foreign nationals or by foreign corporations or taxable trustees. The map of the GGH and a listing of municipalities, counties, and regions within the GGH is outlined below on this page.
