(587) 705-0764
Ackah Business Immigration Law – Personal and Corporate Immigration
Contact us

Contact Information

1 (403) 452-9515

1 (800) 932-1190

Book a Free Consult

More Options...

Ontario Non-Resident Homebuyer Speculation Tax Increase

Blog posted on by Evelyn Ackah in Toronto Immigration

Ontario Non-Resident Homebuyer Speculation Tax Increase

Ontario has increased the Non-Resident Speculation Tax to address the housing shortage created in part by non-residents who buy homes in the province. Effective March 30, 2022, all foreign buyers in Ontario who are not citizens or permanent residents but want to invest in real estate in Ontario will have a 20% speculation tax added to the price of their homes. The Ontario non-resident homebuyer tax increase is to address Ontario's housing crisis by prioritizing Ontario families and homebuyers over non-residents. This is an increase from the previous 15% non-resident speculation tax.

In addition to the increased non-resident homebuyer tax, the new foreign buyer tax measure closes certain loopholes in the tax and expanded the tax across the province. Previously, the speculation tax only applied to Ontario's Greater Golden Horseshoe Region in Southern Ontario.

Ontario has committed to working with the federal government and other provinces to introduce similar measures across Canada to address foreign speculation in Canada’s real estate market.

Rebates and Exemptions for Newcomer Ontario Homebuyers

Ontario continues to welcome immigrants to the province to help grow the economy and create jobs for Canadians. To encourage immigrant homeownership. Ontario also announced new rebates for permanent residents in Canada, including foreign nationals studying and working in Ontario:

Rebates remain available for foreign nationals who become permanent residents of Canada within four years after the tax became payable. Exemptions also remain available for nominees under the Ontario Immigrant Nominee Program, protected persons (refugees), and spouses of individuals not subject to the Non-Resident Speculation Tax, if eligibility criteria are met.

    The homeowner rebates are available to immigrants who are Canadian residents and first-time homeowners and meet other criteria.

    Do You Want to Become an Ontario Permanent Resident?


    Canadian permanent residents and citizens are entitled to privileges and protections that are not available to non-residents. Canadian permanent residents can:

    • get many of the social benefits that Canadian citizens receive, including health care coverage and education
    • live, work or study anywhere in Canada
    • apply for Canadian citizenship
    • Receive protections under Canadian laws and the Canadian Charter of Rights and Freedoms

    There are many pathways to becoming a permanent resident including:

    • Economic and Business Immigration
    • Express Entry
    • Parent and Grandparents Program
    • Family Class Sponsorship

    Do You Have Questions About Becoming a Canada Permanent Resident?

    Ackah Business Immigration Law is a full-service immigration law firm in Toronto, Calgary, and Vancouver servicing businesses and individuals. Contact Ackah Law today at (403) 452-9515 or email us directly.

    Evelyn L. Ackah, BA, LL.B.

    Founder/Managing Lawyer

    Ms. Ackah is passionate about immigration law because it focuses on people and relationships, which are at the core of her personal values. Starting her legal career as a corporate/commercial ...

    More About Evelyn L. Ackah, BA, LL.B.

    Will Canada Ban Canadian Work Experience Requirements?

    Ontario is on the verge of implementing a novel policy: banning employers from requiring Canadian work experience. This move aims to open doors for the country's vast immigrant population ...

    Read More

    Calgary, Vancouver and Toronto Named Most Livable Cities in the World 2023

    Vancouver, Calgary and Toronto are again ranked in the top 10 most livable cities in the world 2023 by the Global Liveability Index 2023. These 3 Canadian cities have once again secured ...

    Read More

    20 Most Livable Cities In Canada For Newcomers

    Relocating to a new country is a big decision, and one that should be carefully considered. With so many factors to weigh, it can be difficult to know where to start. This is where livability ...

    Read More

    What Are The Benefits of the Ontario Immigrant Nominee Program For Toronto Business Immigration

    Ontario is home to Canada's economic center, Toronto, and its capital city, Ottawa. The Ontario Immigrant Nominee Program (OINP), a Provincial Nominee Program (PNP), offers a variety ...

    Read More

    Calgary, Vancouver and Toronto AGAIN Ranked in the Top 10 Most Liveable Cities In the World

    BOOK YOUR FREE CASE EVALUATION Are you recruiting skilled workers to move to Canada? If so, you may want to show them the Economist list of the most liveable cities in the world! The ...

    Read More

    Calgary, Vancouver and Toronto Voted Most Livable Cities in the World 2022

    Are you considering moving to Canada? Economist Magazine's Intelligence Unit released its 2022 Global Liveability Index, ranking 173 cities around the world on over 30 qualities ...

    Read More

    I finally received my PR card. Thank you very much all for your prompt responses and professionalism. I am looking forward to my Citizenship in the coming months.


    View All Testimonials