Ontario’s Non-Resident Speculation Tax (NRST) is a 25% tax on the purchase of residential property by foreign nationals (non-Canadian, non-PR buyers) anywhere in the province. It’s often called Ontario’s foreign buyer tax. Normally, if any buyer of a home is a foreign national, the entire property price is taxed at 25% – even if the other co-buyers are Canadian. For example, a foreign person buying with a Canadian spouse would face the full tax on the whole purchas…
If you’re a foreign homebuyer in Ontario who paid the Non-Resident Speculation Tax (NRST), you might be wondering how to get that money back once you become a Canadian permanent resident. The good news is that Ontario offers an NRST rebate for new permanent residents, potentially returning tens or even hundreds of thousands of dollars to your pocket. However, the rules and timelines are strict – and missing a deadline can cost you dearly. This article will walk you…
The CRA has overhauled the Voluntary Disclosure Program’s (VDP) structure, relief formulas, and documentation expectations. These changes materially affect how VDP files are handled. The following table summarizes the key differences between the two programs.
Key Differences at a Glance
TopicOld program – IC00‑1R6 (2017)New program – IC00‑1R7 (2025)Practical implicationProgram designTwo tracks: General vs Limited (generally included intentional conduct indica…
The Non-Resident Speculation Tax (NRST) is a provincial tax in Ontario that targets foreign homebuyers. It was first introduced in 2017 at 15% for properties in the Greater Golden Horseshoe region and has since expanded to a 25% tax province-wide on applicable residential real estate transactions. This guide provides an up-to-date explainer on Ontario’s NRST as of 2025 – including the current 25% rate, who exactly has to pay it, recent rule changes (like the March…