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Do I Qualify For the Non-Resident Speculation

  • Published by admin
  • on July 22, 2020
In 2017, the Ontario Provincial Government implemented a Non-Resident Speculation Tax (NRST), for foreign home buyers. Currently, the tax rate is set at 15% on a purchase or acquisition of interest in residential property located in the Greater Golden Horseshoe Region. Under certain circumstances, Foreign…

The Ultimate Guide to New Housing HST Rebates

  • Published by admin
  • on July 22, 2020
What Is The New Housing Rebate? The New Housing HST Rebate was created by the Government of Canada and select provincial governments to help home buyers receive a rebate of up to $30,000. The amount that homeowners qualify depends on…

CRA Denying Principal Residence Exemption for Pre-Construction

  • Published by admin
  • on July 22, 2020
The Canada Revenue Agency (CRA) audit divisions have been targeting home sales in the GTA of what they deem to be a quick resale of a newly purchased pre-construction condos. If you resell within 6 to 8 months of getting title, you could face a reassessment for taxation on…