Foreign buyers of residential property in Toronto now face yet another tax to consider. In addition to the Provincial Land Transfer Tax, the City of Toronto’s Municipal Land Transfer Tax, and Ontario’s Non-Resident Speculation Tax (NRST), the Municipal Non-Resident Speculation Tax (MNRST) has been introduced.
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Following the footsteps of the City of Toronto, Hamilton has introduced its own vacancy tax. The City of Hamilton’s new Vacant Unit Tax is now in effect. Originally set to launch a year ago, the tax was delayed when the council unexpectedly struck down the bylaw in late 2023. It was later revived, passed in 2024, and sch...
The holiday season is here, and 2024 is drawing to a close! While this time of year often means vacations, family gatherings, and festive cheer, it can also coincide with major life events—like moving into a new home.
Although real estate transactions tend to slow down during the holidays, for some, this is the ...
Since the introduction of the Trust in Real Estate Services Act (TRESA) and increasing discussions around self-represented parties, we’ve seen a rise in queries from real estate brokerages and agents. One common concern is how to handle the payment of a Buyer’s commission when the Seller is either self-represented or h...
Ontario Landlords! Are you ready to rent out your property? Here’s what you need to know first.
As a landlord in Ontario, you’re probably eager to start earning rental income, but before you hand over the keys, there’s one crucial question you need to ask: “Do I need a license to rent out my property?”
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