Buy property
- Thread starter Ankursharma18
- Start date
Yes you can. There is a foreign buyer tax in some provinces though, not sure if you're subject to that before being a PR.
I applied for pr and workpermit extention in feb 2020 but still waiting ...can anyone tell how long it will take ...
It's not actually a waiver but a partial refund.
You must also be a permanent resident or citizen to qualify. So a protected person would not qualify (pre-PR) but would need to wait until they are officially a PR.
Thank you for your reply.
And how about 20% foreigner tax, is a protected person exempt from it ?
Protected Person qualifies under Exception-Person as per S.C. 2022, c. 10, s. 235 4 (2).
Prohibition
- 4 (1) Despite section 34 of the Citizenship Act, it is prohibited for a non-Canadian to purchase, directly or indirectly, any residential property.
- Marginal note:Exception — persons
(2) Subsection (1) does not apply to- (a) a temporary resident within the meaning of the Immigration and Refugee Protection Act who satisfies prescribed conditions;
- (b) a protected person within the meaning of subsection 95(2) of that Act;
- (c) an individual who is a non-Canadian and who purchases residential property in Canada with their spouse or common-law partner if the spouse or common law-partner is a Canadian citizen, person registered as an Indian under the Indian Act, permanent resident or person referred to in paragraph (a) or (b); or
- (d) a person of a prescribed class of persons.
Thank you Simba for your clarification.
And how about the land transfer tax LTT in ontario, rebate for a protected person?
Actually I was confused as someone else told me that protected person is exempt from paying LTT, but as you said we need to be PR or Canadian citizen to be qualifed for exemption, if we have already bought this property and paid LTT, after becoming PR, could we claim to refund that amount ?
The rules changed in 2017. The person who told you this was possible must have purchsed their house before the rules changed. As of 2017, only Canadian citizens and PRs qualify.
To answer your second question, you would only have qualified for the rebate as protected persons if you purchased the property before November 14, 2016 and then became PRs within 18 months of this date. If you purchased your propertly after November 14, 2016 and were not PRs at the transaction closed, then you wouldn't qualify.
You can see these rules outline here: https://www.ontario.ca/document/land-transfer-tax/land-transfer-tax-refunds-first-time-homebuyers#section-2