Municipal Non-Resident Speculation Tax (MNRST)

On February 6 and 7, 2024, Toronto City Council approved the Municipal Non-Resident Speculation Tax (MNRST), which will take effect on January 1, 2025. This new 10% tax applies to foreign buyers of certain residential properties in Toronto, in addition to the Municipal Land Transfer Tax (MLTT).

The MNRST aims to improve housing availability and affordability by discouraging purchases by international buyers who do not intend to live in the property or are buying for purely speculative reasons. It applies to single-family residences including detached, semi-detached, townhouses, and condominium units (up to six units per property).

Foreign nationals, foreign corporations, or taxable trustees are subject to the tax. Exemptions and rebates align with the provincial Non-Resident Speculation Tax (NRST), including rebates for foreign buyers who become permanent residents within four years of purchase.

The tax will be collected during property registration, and all buyers must declare their status or claim applicable exemptions.

For more details, visit the City of Toronto’s official page: https://www.toronto.ca/home/311-toronto-at-your-service/find-service-information/article/?kb=kA06g000001Uu6rCAC

2024年2月6日和7日，多伦多市议会批准实施市政非居民投机税 (MNRST)，将于2025年1月1日正式生效。这项新税率为10%，适用于多伦多特定住宅物业的外国买家，并需另缴市政土地转让税（MLTT）。

MNRST旨在提高住房供应和可负担性，阻止不打算居住或纯粹出于投机目的购房的国际买家。适用房产包括独立屋、半独立屋、联排别墅和公寓单位（每个物业最多六个单位）。

外国个人、外国公司或可征税受托人均需缴纳此税。免税和退税政策与安省非居民投机税（NRST）一致，包括对在购房后四年内成为加拿大永久居民的外国买家的退税。

该税款将在房产登记时收取，所有买家需申报身份或申请相关豁免。

更多详情，请访问多伦多市官网: https://www.toronto.ca/home/311-toronto-at-your-service/find-service-information/article/?kb=kA06g000001Uu6rCAC