Ontario’s 25% Non-Resident Speculation Tax (NRST) Explained — 2026
Who pays, how much, where it applies, and whether you can get it back
What is Ontario’s Non-Resident Speculation Tax now, and who pays it?
The current rate is 25%, effective October 25, 2022, and it applies province-wide. According to the Government of Ontario (2022), it is paid by foreign nationals (non-citizens/non-PRs), foreign corporations, and taxable trustees who buy residential property in Ontario — charged in addition to the regular Land Transfer Tax.
Source: Government of Ontario — Non-Resident Speculation Tax (2022).
Many overseas buyers and student families ask me how Ontario’s “foreign buyer tax” works. Its formal name is the Non-Resident Speculation Tax (NRST), and the rate has changed several times — it is now 25% and applies across the whole province. Here is who pays, how much, and whether you can recover it, so a six-figure surprise doesn’t hit you at closing.
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Rate and history: from 15% to 25%
Who pays: three taxable parties
Permanent-resident rebate: become a PR within four years
Exemptions: nominee, protected person, spouse
🚨The old NRST transitional rebate for international students and foreign workers closed on March 31, 2025 and is no longer available. Plan only around the current PR rebate and status-based exemptions.
💡 Important: the former transitional rebates for international students and foreign workers have expired (the March 31, 2025 deadline has passed). Don’t rely on old guides that still list them — today the main paths are the PR rebate and the exemptions above.
Practical advice: settle your status before closing
25% can be a six-figure amount, so confirm your status, whether NRST is triggered, and whether you qualify for an exemption or rebate with your real estate lawyer and accountant before you write an offer. Getting the structure right at signing is far easier than fixing it after closing.
Frequently Asked Questions
What is Ontario’s Non-Resident Speculation Tax now?
According to the Government of Ontario (2022), it is 25%, effective October 25, 2022, and applies province-wide, charged in addition to the regular Land Transfer Tax.
Can permanent residents get the tax back?
Yes. According to the Government of Ontario (2022), if a buyer becomes a PR within four years of purchase, applies within 180 days of becoming a PR, and occupies as principal residence within 60 days of registration, they can claim a full rebate.
Who is exempt from NRST?
According to the Government of Ontario (2022), Ontario Immigrant Nominees, protected persons (refugees), and the spouse of a citizen/PR/nominee/protected person may be exempt, subject to principal-residence conditions.
Can international students still use the transitional rebate?
No. The former transitional rebate for international students and foreign workers closed on March 31, 2025 and is no longer available.
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