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The non-resident speculation tax (NRST) in Ontario is imposed on foreign nationals during the purchase of residential properties. One of the ways to avoid this tax is by applying for the NRST rebate to the Ministry of Finance. If you’re confused about what the NRST...
Foreign buyer tax Ontario, also called the non-resident speculation tax (NRST), is a provincial charge that applies to foreign nationals. Along with the land transfer tax (LTT), it can significantly increase your total house closing costs. This may make you wonder if...
Understanding Canadian real estate taxes can be overwhelming, especially if you’re a non-resident. The housing market is governed by various regulations that apply different taxes, such as the land transfer tax (LTT) and non-resident speculation tax (NRST), during the...
Land transfer tax (LTT) is a house closing expense that a buyer has to face when registering a new property in Ontario. It is legally mandatory to pay this tax, but there are ways to reduce its value or avoid paying it in some cases. If you’re already overwhelmed by...
Buying a home in Ontario is a significant financial investment that you must make wisely. One of the factors that can impact your closing costs and overall real estate investment is the land transfer tax in the province. The tax is payable whenever you buy a new...
Marrying someone is a crucial life step and commitment that two people can make in their lives. It is a legal and financial partnership that many are now entering after having honest conversations. One of the common things couples now talk about before walking down...
Thousands of Canadians choose to live together without getting married. These relationships carry legal weight in Ontario, and such partners are called common law partners. The rules are different from marriage in ways which can surprise you significantly. Whether...
A separation agreement is a legally binding contract that a couple may enter into after deciding to live separately and apart. This could mean that both spouses live in different houses or that they live in the same house but have separate rooms, finances, food...
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