On April 21, 2017, the Province introduced the Non-Resident Speculation Tax (NRST), which at the time was a 15 per cent tax on the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe Region (GGH) by foreign entities (individuals who are not citizens or permanent residents of Canada and foreign corporations) and taxable trustees. On March 30, 2022, the NRST rate was increased to 20 per cent, and its application was expanded provincewide. On October 25, 2022, the NRST rate was further increased to 25 per cent. Moving forward, the government is taking further action to strengthen the NRST with amendments to support compliance and improve fairness.

The NRST applies in addition to the general land transfer tax in Ontario.

Specifically, the NRST applies on the transfer of land which contains at least one and not more than six single family residences. Examples of land containing one single family residence include land containing a detached house, a semi‑detached house, a townhouse or a condominium unit. As of March 27, 2024, standalone purchases of parking units and storage units in a condominium complex are also subject to NRST.  

This report is based on the NRST collected on applicable transactions. The table in this report is for payments made to the Ministry of Finance between April 21, 2017, and December 31, 2023, and includes a breakdown of the NRST collected based on Land Registry Offices (LROs).

Note: The amount of NRST collected should not be used to correlate or estimate foreign transactions or activity, as some foreign transactions were subject to transitional relief or exempt from NRST. Please see Land Transfer Tax - Additional Information Collection - Purchases by Foreign Entities.

For more information on the NRST and its exemptions and rebates, refer to the Non-Resident Speculation Tax webpage bulletin.

Non-Resident Speculation Tax Collected – April 21, 2017 to December 31, 2023

Note: The figures in this table reflect the total NRST paid to the Ministry. Therefore, these figures may include amounts that are currently subject to an application for a rebate or refund, or may (in the future) be subject to an application for a rebate or refund.

($ millions)
Land Registry Offices (LROs)footnote 12017201820192020202120222023
GGH Total156.7196.1170.4168.1167.8184.071.3
Brant0.00.20.00.50.00.00.2
Dufferin0.00.30.00.00.00.00.0
Durham1.52.32.82.02.73.61.0
Halton7.713.29.213.013.916.46.8
Niagara South & North3.13.94.34.73.73.21.3
Peel10.914.810.112.613.911.84.9
Peterborough0.40.50.00.00.00.80.1
Simcoe0.90.81.60.73.82.31.2
Toronto76.4105.188.783.176.391.528.6
Waterloo5.24.66.86.16.86.41.8
Wellington0.01.11.61.21.41.30.4
Wentworth2.24.33.33.43.82.21.0
York48.044.741.540.240.943.523.8
Other GGH Regionsfootnote 20.40.30.50.50.50.80.2
Non-GGH Totalfootnote 3N/AN/AN/AN/AN/A16.312.7
AlgomaN/AN/AN/AN/AN/A0.90.2
EssexN/AN/AN/AN/AN/A1.60.7
KenoraN/AN/AN/AN/AN/A0.61.3
MiddlesexN/AN/AN/AN/AN/A2.71.1
MuskokaN/AN/AN/AN/AN/A1.20.6
OttawaN/AN/AN/AN/AN/A4.63.3
Rainy RiverN/AN/AN/AN/AN/A0.50.9
SudburyN/AN/AN/AN/AN/A1.10.2
Other Non-GGH Regionsfootnote 2N/AN/AN/AN/AN/A3.14.5
Ontario Total156.7196.1170.4168.1167.8200.384.0

Note: Numbers in table above may not add due to rounding.

Glossary

TermDefinition
Additional Information Collection
(Prescribed Information for the Purposes of Section 5.0.1)

On April 24, 2017 the Province began collecting additional information to better understand trends in the housing market through the land transfer tax (LTT) system.

All persons who purchase or acquire land in Ontario that contains at least one and not more than six single family residences, or agricultural land, are required to provide this additional information.

For more information, refer to the Prescribed Information for the Purposes of Section 5.0.1.

Foreign corporation

Means a corporation that is one of the following:

  1. A corporation that is not incorporated in Canada
  2. A corporation, the shares of which are not listed on a stock exchange in Canada, that is incorporated in Canada and is controlled, directly or indirectly in any manner whatever, within the meaning of section 256 of the Income Tax Act (Canada), by one or more of the following:
    1. a foreign national
    2. a corporation that is not incorporated in Canada
    3. a corporation that would, if each share of the corporation's capital stock that is owned by a foreign national or by a corporation described in paragraph 1 were owned by a particular person, be controlled, directly or indirectly in any manner whatsoever, within the meaning of section 256 of the Income Tax Act (Canada), by the particular person
Foreign entityMeans a foreign corporation or a foreign national.
Foreign nationalAs defined in the Immigration and Refugee Protection Act (Canada), is an individual who is not a Canadian citizen or permanent resident of Canada and includes a stateless person.
Greater Golden Horseshoe Region (GGH)

Refers to the area of land comprised of the geographic areas of the following municipalities:

  • City of Barrie, County of Brant, City of Brantford, County of Dufferin, Regional Municipality of Durham, City of Guelph, Haldimand County, Regional Municipality of Halton, City of Hamilton, City of Kawartha Lakes, Regional Municipality of Niagara, County of Northumberland, City of Orillia, Regional Municipality of Peel, City of Peterborough, County of Peterborough, County of Simcoe, City of Toronto, Regional Municipality of Waterloo, County of Wellington, and Regional Municipality of York
Land Registry Office (LRO)LROs are managed by the Ministry of Public and Business Service Delivery and Procurement and allow persons to register and search official private property records using Ontario’s land registration system.
Land Transfer Tax (LTT)

The LTT is a broad-based tax imposed on persons acquiring land, or a beneficial interest in land, in Ontario with few exceptions. LTT is payable to the Province when the transfer is registered under the Land Titles Act or the Registry Act, as applicable.

If the acquisition of an interest in land is not registered, LTT is payable directly to the Province in respect of the unregistered disposition of a beneficial interest in land, within 30 days after the transaction closing date.

NomineeMeans a foreign national who is nominated under the Ontario Immigrant Nominee Program.
Permanent resident of CanadaMeans a person who has acquired permanent resident status and has not subsequently lost that status under section 46 of the Immigration and Refugee Protection Act (Canada).
Protected personMeans a foreign national on whom refugee protection is conferred under section 95 of the Immigration and Refugee Protection Act (Canada).
Single family residence

Means a unit or proposed unit under the Condominium Act, 1998 or a structure or part of a structure that is designed for occupation as the residence of a family, including dependents or domestic employees of a member of the family, whether or not rent is paid to occupy any part of it and whether or not the land on which it is situated is zoned for residential use and,

  1. includes such a residence that is to be constructed as part of the arrangement relating to a conveyance, and
  2. does not include such a residence that is constructed or is to be constructed on agricultural land that is eligible to be classified in the farm property class prescribed under the Assessment Act

For example: a detached and semi‑detached house, duplex, freehold townhouse, condominium townhouse, condominium apartment, and cottage.

Taxable trustee

Means a trustee of:

  • a trust with at least one trustee that is a foreign entity
  • a trust with no foreign entity trustees if a beneficiary of the trust is a foreign entity

Taxable trustee does not include a trustee acting for the following types of trusts:

  1. A mutual fund trust within the meaning of subsection 132 (6) of the Income Tax Act (Canada)
  2. A real estate investment trust as defined in subsection 122.1 (1) of the Income Tax Act (Canada)
  3. A SIFT trust as defined in subsection 122.1 (1) of the Income Tax Act (Canada)

Appendix A: Ontario – Land Registry Offices

Land registry offices

Appendix B: NRST and Additional Information Collection – Comparison

ItemNRSTAdditional Information Collection
Date of ImplementationApril 21, 2017April 24, 2017
Transitional ProvisionsTransitional relief provisions are available for eligible transactions regarding the general application of the NRST, as well as the applicable tax rate. Refer to the NRST webpage bulletin for more information.N/A
Geographic AreaAll of Ontario (applied only to the Greater Golden Horseshoe Region prior to March 30, 2022)All of Ontario
Type of Property

Land that contains:

  • at least one and not more than six single family residences

Land that contains:

  • at least one and not more than six single family residences
  • agricultural land
Applicable Transferees (for example, Purchasers)

The data will only show those who were subject to the tax (foreign entities, and taxable trustees).

  • Foreign entities:
    • Foreign nationals
    • Foreign corporations
  • Taxable trustees, means a trustee of:
    • a trust with at least one trustee that is a foreign entity
    • a trust with no foreign entity trustees if a beneficiary of the trust is a foreign entity

All persons who purchase or acquire the applicable land (see above) in Ontario.

This includes the following:

  • Canadian citizens and permanent residents of Canada
  • Canadian corporations
  • Foreign nationals
    • Persons nominated under the Ontario Immigrant Nominee Program
    • Protected persons (refugees)
    • Spouses of Canadian citizens, permanent residents of Canada, nominees or protected persons
  • Foreign corporations
  • Trustees, nominees, agents, or similar arrangements
Transferees Excluded or Exemptfootnote 4
  • Trustee acting for the following types of trusts:
    • Mutual fund trust
    • Real Estate Investment Trust (REIT)
    • Specified Investment Flow-Through (SIFT) trust
  • Nominee:
    • A foreign national who is nominated under the Ontario Immigrant Nominee Program
  • Protected persons (refugee):
    • A foreign national on whom refugee protection is conferred under section 95 of the Immigration and Refugee Protection Act (Canada)
  • Spouses:
    • A foreign national who jointly purchases residential property with a spouse, who is a Canadian citizen, permanent resident of Canada, nominee or protected person
  • Trustee acting for the following types of trusts:
    • Mutual fund trust
    • Real Estate Investment Trust (REIT)
    • Specified Investment Flow-Through (SIFT) trust

Note: For exclusions relating to trustees of mutual fund trusts, REITs, and SIFT trusts, the trustee must exclusively hold title (or must hold title with similar trustees or other eligible persons).

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Footnotes

  • footnote[1] Back to paragraph LRO boundaries may not coincide with municipal, county or district boundaries.
  • footnote[2] Back to paragraph Combined LROs due to low transaction counts.
  • footnote[3] Back to paragraph Prior to March 30, 2022, the NRST applied only in the GGH.
  • footnote[4] Back to paragraph In order to be eligible for an exemption from the NRST, the purchaser must meet all requirements (for example, certification to occupy the land as a principal residence), and the land must be held exclusively by the transferee and their spouse (and potentially other eligible persons).