by David J Rotfleisch | Aug 12, 2021 | Featured, Legal Issues
The foreign buyers tax is a property transfer tax in Ontario and British Columbia. The tax is imposed by the provincial governments under their land transfer tax statutes. It is payable in addition to the normal land transfer tax. The tax is payable by a “foreign...
by Yousaf Iqbal | Apr 28, 2021 | Featured, Guest Columns
You know that international buyers are important, but are they important enough to warrant an agent’s investment of serious time and effort? If you believe Statistics Canada, you might think so. The official Canadian authority on data issued a report showing that...
by Afshin Yazdani | Mar 2, 2021 | Legal Issues
In April 2017, the Government of Ontario introduced the Non-Resident Speculation Tax (NRST), which is applied to foreign and non-resident property buyers as a measure to control the real estate market in the Greater Golden Horseshoe Area.* The 15 per cent tax applies...
by REM Editorial Team | Aug 5, 2020 | News
In the United Kingdom, the housing market ground to a halt in March due to COVID-19, but since then buying activity has picked up, says Bankrate, a U.K. mortgage information portal. It reports that according to Google trends, “relocation” searches have spiked by more...
by David J Rotfleisch | Jul 10, 2020 | Columnists, Featured, Legal Issues
On June 25, Canada Revenue Agency (CRA) announced that it would carry out a tax review of six years of U.S. real estate transactions in order to find any tax non-compliance from Canadian taxpayers. CRA is looking for “real estate and property data in bulk form, in...
