Foreign buyers tax, expanded rent control coming to Ontario - News Summed Up

Foreign buyers tax, expanded rent control coming to Ontario


In addition to the foreign buyers tax and expanded rent control, the measures also include:A rebate of development cost charges to encourage building of more rental housing. A review of the rules governing the conduct of real estate agents. CBC News has learned that Ontario Premier Kathleen Wynne will announce the government will no longer exempt units built after 1991 from the province's rent control system. Real estate agent practicesThe government will not immediately impose any new measures on real estate agents but will review the regulations governing the industry, together with the body representing agents (the Ontario Real Estate Association) and the provincial regulator (The Real Estate Council of Ontario). Tracking citizenship and residencyAnyone who buys real estate in Ontario will have to reveal their citizenship and place of residence.


Source: CBC News April 20, 2017 09:22 UTC



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