When you buy land in Ontario, you pay Ontario's land transfer tax. In addition, for certain transfers of land, a 25 per cent Non‑Resident Speculation Tax (NRST) may apply.
Effective as of January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) prevents non-Canadians from buying residential property in Canada for 2 years.
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