Executive summary
On 30 March 2022, Ontario filed Regulation 240/22, which implements amendments to increase the nonresident speculation tax rate to 20% (from 15%) and extend the application of the tax provincewide. As well, tax rebates for international students and foreign nationals working in Ontario have been eliminated. These measures apply to conveyances of land tendered for registration on or after 30 March 2022, subject to transitional measures. The stated purpose of these measures is to …