NRST Overseas Buyer Tax Refund Example

Tell me about a story about falling in love, buying a house, and not getting a tax refund? A love story that hurts money

Overseas residents who purchase Toronto real estate need to rebate the foreign buyers tax (NRST), but there are clear requirements for this tax rebate. If it is a joint purchase, you need to become a legal couple with the joint purchaser or maintain a cohabitation relationship with him or her for at least 3 years before the property is transferred. At the same time, you also need to note that any non-partnership joint purchase will inevitably lead to failure of the NRST tax refund. Again, tax laws are complicated and updated every year. If you are not sure whether your personal situation meets the requirements, it is also recommended that you consult before buying a house.

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