Property News · April 20, 2017

Ontario imposes tax on overseas buyers to rein in housing prices


Ontario announced a rash of measures including a tax on foreign buyers and expanded rent control as part of a plan to temper escalating home prices in Toronto.
The 15 per cent levy would apply to non-Canadian citizens, non-permanent residents and non-Canadian corporations buying residential properties containing one to six units in the greater Toronto area, the provincial government said in a statement on Thursday. Rent control will be imposed on buildings constructed after 1991, which…

Source : South China Morning Post
Read more…Ontario imposes tax on overseas buyers to rein in housing prices

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