Canada: Repeal of proposed non-resident property tax (Nova Scotia)

Non-resident property tax originally announced in Nova Scotia's 2022 budget

Non-resident property tax originally announced in Nova Scotia's 2022 budget

Nova Scotia will no longer implement a new tax on residential property owners who are not residents of Nova Scotia.

However, the non-resident deed transfer tax is proceeding as planned. Under this measure, non-Nova Scotia residents are generally subject to a new deed transfer tax of 5% of the value of residential real property purchased in the province, with certain exceptions. This new tax applies to transfers on or after 1 April 2022, unless the agreement of purchase and sale was entered into before that date.

The non-resident property tax and deed transfer tax were both originally announced in Nova Scotia's 2022 budget. Read TaxNewsFlash

Read a May 2022 report prepared by the KPMG member firm in Canada

 

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