The Government of Ontario announced amendments to the Non-Resident Speculation Tax

By: Laurita Almeida

The Government of Ontario announced amendments to the Non-Resident Speculation Tax

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Increasing the NRST As of October 25, 2022, the NRST rate will be increased from 20% to 25% and continues to apply to all regions of the province. The NRST applies to the transfer of “designated land”, which is considered land that contains at least one and no more than six single-family residences. Back in March, the government raised the NRST from 15% to 20%. The new...Read More