De Krupe Law
800 Sheppard Ave West, C1 M3H 6B4 Toronto, ON, Canada
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General Information
Locality: Toronto, Ontario
Phone: +1 416-901-9344
Address: 800 Sheppard Ave West, C1 M3H 6B4 Toronto, ON, Canada
Website: www.dekrupelaw.ca/
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De Krupe Law happy to announce that we have been voted top 3, by Three Best Rated, second year in a row!
De Krupe Law Toronto
De Krupe Law Newmarket
#realeastate #realestatelawyer #realestatelawyertoronto #realestatelawyergta #realestatelawgta #realestatenewmarket #realestatelawyernewmarket #familylaw #corporatelaw #wills #contracts
Happy to report, our Newmarket location wins best three award for service, https://threebestrated.ca/real-estate-lawyers-in-newmarket-
Appointments available on weekends and after-hour!
Happy to inform that De Krupe Law now has offices in Toronto and Newmarket to serve our clients better.
The government of Ontario has introduced a 15% non-resident speculation tax (NRST). What does this tax mean? This article will explore the following questions and answer them as plainly as possible: who does the NRST apply to, which areas of Ontario does it apply to and can you as a non-resident receive a rebate? First, the NRST applies to residential properties which contain at least one and not more than 6 single family units. This means that the tax does not apply to a...partment buildings with more than 6 units, commercial land, industrial land or agricultural land. Second, the NRST only applies to the following areas: Toronto, York, Brant, Dufferin, Durham, Haldimand, Halton, Hamilton, Kawartha Lakes, Niagara, Northumberland, Peel, Peterborough, Simcoe, Waterloo, Wellington. Third, NRST applies to purchases by foreign entities and taxable trustees. For the purpose of this article we will only focus on foreign entities. Foreign entities are either foreign individuals who are not citizens or permanent residents of Canada, and foreign corporations that have not been incorporated in Canada or who have been incorporated in Canada but are controlled by a foreign national. One of the most frequent questions we get by foreigners who plan on becoming Canadians is will I get a rebate once I become a permanent resident? In short yes, if you meet one of the following categories. If you become a permanent resident in 4 years from the date of the purchase, you will get back the NRST tax. If you will become a full-time student for at least 2 years after the date of the purchase, you are also eligible to get back the NRST tax. Finally, if you work in Ontario for at least one full year after the date of the purchase you are eligible to receive the NRST rebate. Certain foreign nationals are exempt from the NRST tax, such as individuals who receive a confirmation as a nominee by the Ontario Immigration Nominee Program, individuals who receive status of a conventional refugee or if your spouse is a Canadian citizen, permanent resident of Canada or one of the above. De Krupe Law Stanislav Aranush de Krupe Barrister and Solicitor 905 235 4272 [email protected] www.dekrupelaw.ca See more
www.dekrupelaw.ca
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