After March 30, 2022, the Non-Resident Speculation Tax (NRST) changes from fifteen percent (15% ) to twenty percent (20%) and applies to all residential property in Ontario based on the time the of Agreement of Purchase and Sale (APS) was signed. However, after October 25, 2022, NRST increases to twenty percent (25%) and applies to all residential property in Ontario based on the time of the APS was signed. The original 15% NRST is now regarded as “Transitional Provisions for NRST”.
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