Province of Ontario Introduces Legislation on Non-Resident Speculation Tax

The Minister of Finance (Ontario) introduced Bill 134, Budget Measures Act (Housing Price Stability and Ontario Seniors’ Public Transit Tax Credit), 2017 yesterday, providing a first look at legislation regarding the non-resident speculation tax for land transfers in the Greater Golden Horseshoe area. The proposed legislation can be found here: http://ontla.on.ca/web/bills/bills_detail.do?locale=en&Intranet=&BillID=4897#BK3

Prepared by: Nicholas McIsaac

Nicholas is an associate at the Toronto office of Thorsteinssons. Nicholas’ practice focuses on corporate and international tax planning, regularly advising Canadian and foreign-based multi-national groups on a variety of matters, including financing, mergers and acquisitions, restructurings and natural resource… more »

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