On October 25, 2022, the Government of Ontario announced amendments to the Non-Resident Speculation Tax (NRST).  Here’s what REALTORS® need to know about the changes to the NRST and how it might impact their transactions.  Increasing the NRST As of October 25, 2022, the NRST rate will be increased from 20% to 25% and continues to apply to all regions of the province. The NRST applies to the transfer of “designated land”, which is considered land that... [read more]

Taxes are part of every financial transaction. While many investors have mastered the art of tax planning, newer Canadians buying real estate may not understand how quickly seemingly viable investments can turn into financial disasters.  Mitigating the amount of tax deducted from your income ahead of tax season is a form of tax planning that can help investors build their wealth and grow as an investor.  For Canadian real estate investors, understanding the different tax... [read more]