2023

WHAT ARE THE EXEMPTIONS FOR NON-RESIDENT SPECULATION TAX (“NRST”)

The Non-Resident Speculation Tax (NRST) is a 25% tax in Ontario on residential property purchases by foreign nationals, foreign corporations, and certain trustees. It applies to purchases made after March 29, 2022, throughout Ontario and before that date in the Greater Golden Horseshoe region. Exemptions from NRST include: 1-Eligible Ontario Immigrant Nominee Program...

the current inflation rate in Canada stands at 2.8%

As of July 18, 2023, the inflation rate in Canada experienced a significant decline to 2.8% in June 2023, down from the 3.4% annual inflation rate observed in May 2023. This marks the lowest level of headline inflation since March 2021. The decline can be attributed primarily to a reduction in gas prices, which decreased by 22% compared to the previous year. Excluding gasoline prices, inflation rates were...

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