Government Announces Additional 15% Property Transfer Tax

In an effort to make housing more accessible to middle-class families, Bill 28, Miscellaneous Statutes (Housing Priority Initiatives) Amendment Act, 2016, was introduced in the legislature today. That means an additional property transfer tax rate of 15% will apply to purchasers of residential real estate who are foreign nationals or foreign-controlled corporations. The additional tax will… Read More Government Announces Additional 15% Property Transfer Tax