The federal government's Prohibition on the Purchase of Residential Property by Non-Canadians Act (the "Act"), which prohibits "non-Canadians "from directly or indirectly purchasing residential property, which was currently set to expire on January 1, 2025, will be extended to January 1, 2027. During which time, corporations and individuals who are considered "non-Canadians" will continue to be prohibited from purchasing residential property.
Read Jeevan Ahuja's article to learn more about this here.
Originally published 12 February 2024
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