What is Non-Resident Speculation Tax (NRST)?
The NRST is a 15% tax payable that applies to all foreign entities or taxable trustees who purchased or acquired residential properties in the Greater Golden Horseshoe Region that happens on or after April 21st, 2017.
You are able to obtain a rebate if you paid the NRST on a purchase of property on or after April 21, 2017:
- Foreign national who becomes a Canadian Citizen or a permanent resident of Canada within (4) four years from the date of purchase the property
- International students – enroll in full-time study in Ontario for a continuous period of at least (2) two years from the date of purchase or acquisition
- Foreign nation working in Ontario – has legally worked full-time under a valid work permit in Ontario for a continuous period of at least (1) one year from the date of purchase or acquisition. It is the best to work at only one company for two years. Full-time means an employment position that requires no fewer than 30 hours of paid work per week over a 12-month period and no fewer than a total of 1,560 hours of paid work over that period.
What is the Greater Golden Horseshoe Region (GGH)?
It is a broad area surrounding Toronto comprised of the following towns and cities (some areas are as followed):
- City of Toronto
- City of Brantford
- City of Guelph
- City of Hamilton
- Regional Municipality of Niagara
- Regional Municipality of Waterloo
Address：Unit 1108, 250 Consumers Rd, North York, ON, Canada M2J 4V6
Tel： (416) 551-5550 or (416) 456-2225
Working Hours: Mon. – Fri. (9:30 – 18:30)
Sat. – Fri (10:30 – 15:30)