Ontario hikes tax on foreign buyers to 20% as it expands province-wide

Ontario Finance Minister Peter Bethanfalvy said Wednesday the government was increasing the foreign homebuyer tax from 15 to 20 per cent, and expanding it to the entire province. He said the government is also cracking down on tax avoidance by eliminating loopholes “used to shelter profits” and providing relief for new Canadians settling in the province.

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