How to avoid paying the Non-Resident Speculation tax on purchasing a house ？

tag1234

Hi I like to ask is there a way to get around paying Non-Resident Speculation tax on purchasing a house in GTA for non resident. I very dont want to pay that 20% over the purchasing price. House are already very expensive in GTA area.

zeedified

if you want to wait, it's better to buy when the demand cools down after the interest rate increases this year. the market is overheated.

saitou2

you can’t without committing tax fraud lol

best way is to become a permanent resident

model3

没办法。成为PR是唯一的办法。

rkim

It is simple. One such way is to incorporate a company in your country. Then buy the property under your company.

There are many exceptions on this tax to the point it is useless, even according to newspapers reporting on this.

You just need to ask an experienced lawyer in RE laws.

coolhot

There is no way to avoid the tax; otherwise, you will be considered tax fraud.  You can buy commercial properties as there is no Non-Resident Speculation tax.