The Ontario Non-Resident Speculation Tax (NRST) is a 25% tax on the purchase price of residential properties bought by foreign nationals in Ontario — and it applies province-wide to most residential purchases by non-residents. Flowers Team Real Estate works with both Canadian and international buyers and ensures every client understands which taxes apply to their situation.

What you need to know about the NRST:

• Rate — 25% of the purchase price, in addition to Ontario land transfer tax. See Ontario Non-Resident Speculation Tax — ontario.ca.
• Who it applies to — foreign nationals (non-Canadian citizens and non-permanent residents) purchasing residential property in Ontario.
• Who it does NOT apply to — Canadian citizens, permanent residents, and protected persons are exempt from NRST.
• Nominees and international students — Ontario provincial nominees and international students at approved institutions may qualify for a rebate under specific conditions.
• Federal Foreign Buyer Ban — the Prohibition on the Purchase of Residential Property by Non-Canadians Act separately restricts most foreign nationals from purchasing Canadian residential property. This is distinct from the NRST.

If you are unsure whether the NRST or federal foreign buyer ban applies to your situation, consult a real estate lawyer before making an offer. Flowers Team Real Estate can connect you with the right legal expertise. Contact us.