Property News · April 21, 2017

Toronto to introduce 15 per cent foreign-buyer tax in bid to calm red-hot housing market


Foreign nationals who don’t live in Canada’s biggest city and its surrounding communities will pay an additional 15 percent tax on home purchases under legislation proposed by the government of Ontario province.
Ontario Premier Kathleen Wynne made the announcement Thursday in an effort to cool a hot housing market in Toronto. It would match the 15 per cent tax on foreign home buyers in the Pacific coast city of Vancouver, which drastically slowed sales there last year.
Wynne said…

Source : South China Morning Post
Read more…Toronto to introduce 15 per cent foreign-buyer tax in bid to calm red-hot housing market

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