Publications
Tax News Flash - Ontario Introduces the new Non-Resident Speculation Tax
As expected, the Government of Ontario has introduced a new non-resident speculation tax that takes effect on April 21, 2017. The NRST is a 15% tax payable on the purchase of an interest in residential property located in the “Greater Golden Horseshoe” area (which includes Toronto and surrounding areas) by “foreign entities” and “taxable trustees” (as described below). The NRST applies in addition to any land transfer tax in Ontario real estate transactions
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Saam advises domestic and offshore clients on all aspects of income taxation.
Related publications
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Machine Guarding and Electrical Hazards: Ministry of Labour Kicks off 2018 with Industrial Sector Inspection Blitz
Each year, the Ministry of Labour (MOL) schedules inspection blitzes in specific sectors as part of its overall Occupational Health and Safety Act (OHSA) enforcement strategy. Although the focus of th... -
The Cannabis Act and Residential Tenancies
In April, the federal government introduced Bill C-45 (the “Cannabis Act”), which provides for the legalization of recreational marijuana in June 2018. Until the Cannabis Act comes into force, the pos...