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Non-Resident Speculation Tax

The Non-Resident Speculation Tax (NRST) is an Ontario tax on foreign buyers of residential properties to curb speculation and support affordability.

Non-Resident Speculation Tax

September 30, 2025


What is the Non-Resident Speculation Tax?

The Non-Resident Speculation Tax (NRST) is a provincial tax in Ontario applied to the purchase of residential properties by foreign buyers. Initially introduced in the Greater Golden Horseshoe region, it has since been expanded province-wide. The NRST is an additional percentage of the purchase price, charged on top of land transfer taxes.

Why the Non-Resident Speculation Tax Matters in Real Estate

The NRST matters in real estate because it is designed to curb foreign speculation and stabilize housing markets by discouraging non-resident ownership. It raises government revenue while aiming to improve affordability for local buyers.

Example of the Non-Resident Speculation Tax in Action

A non-resident investor purchases a $1,000,000 home in Toronto. They must pay the standard land transfer tax plus the NRST at the applicable rate, adding tens of thousands to closing costs.

Key Takeaways

  • Applies to foreign buyers of Ontario residential property.
  • Charged as a percentage of the purchase price.
  • Aims to reduce speculation and increase affordability.
  • Introduced in GGH region, expanded province-wide.
  • Significant additional cost for non-resident buyers.

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