Feigenbaum Law

non-resident speculation tax

Speculation Tax

Personal Tax Planning

Housing Speculation Tax Challenged in B.C.

We’ve regularly blogged about tax issues arising out of real estate transactions, including taxes being levied against foreign buyers in an increasing number of cities across Canada. We’ve also blogged about taxpayers fighting back against such levies. Now, a group of other taxpayers have launched a legal action against B.C’s Speculation and Vacancy Tax a move which appears to be the only major lawsuit to reach trial. Speculation and Vacancy… Read More

Speculation Tax

Personal Tax Planning

Newly Released Statistics Reveal that Fewer Foreign Buyers are Buying Homes in the GTA

We’ve previously blogged about measures being implemented in various jurisdictions across Canada intended to cool down the housing market and address affordability by taxing foreign buyers. Among such measures was a Foreign Buyer’s Tax introduced in British Columbia (and separately also within Vancouver). We also blogged about creative ways that foreign buyers have been attempting to circumvent measures such as the Foreign Buyer’s Tax. Much like in BC, Ontario has its own foreign… Read More

Personal Tax Planning

How Ontario’s Fair Housing Plan Will Impact US Buyers

Ontario recently announced its Fair Housing Plan, which includes a “Non-Resident Speculation Tax” that will impact all US buyers of residential property in Ontario. With an eye to keeping housing prices from climbing out of reach for most buyers, the Ontario government has implemented a 15% Non-Resident Speculation Tax. What purchases are subject to the Non-Resident Speculation Tax? The tax applies to any purchase or acquisition of residential property containing up to six… Read More