The Government of the Canadian Province of Ontario has announced the introduction of a non-resident speculation tax (NRST) of 15% on the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe region, which includes Toronto and other main areas along Lake Ontario. The NRST will apply in addition to the general land transfer tax for both foreign nationals and foreign entities. It will also apply for taxable trustees, including a foreign entity hol…