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April 24, 2017

Ontario adds foreign tax to cool housing market

  • Asian investment in Toronto reportedly picked up after Vancouver introduced its foreign buyer tax last summer.
    • By ROB GILLIES
    Associated Press

    TORONTO — Foreign nationals who don't live in the properties they own in Toronto and its surrounding communities will pay an additional 15 percent tax on those homes under legislation proposed by the Ontario government.

    Ontario Premier Kathleen Wynne made the announcement Thursday in an effort to cool a hot housing market in Canada's largest city.


     
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