Ontario announces new Tax on Foreign Buyers

2022-05-30 0 By

On March 30, the government of Ontario, Canada’s largest province with the largest population, announced on The 29th that it would raise the speculation tax rate of non-residents from 15% to 20% effective on The 30th, and expand the coverage of the tax to the whole province.Ontario says the move is aimed at cracking down on property speculation by foreigners to make home ownership easier for its residents.(FC)