How to avoid NRST after getting PR card

[j795wang]

Hey guys, here's the context of my situation. I bought a pre-construction house in 2021, and it's not closing yet (expected to get final closing in 1st quarter 2024).
When I bought the house in 2021, I was not a PR yet, and I had the work permit. And I recently got my ecopr, and I am just wondering what I should do to avoid paying the NRST given the fact that I am already approved as a PR in Canada. Thank you so much.

PS: I know that I can apply for new SIN with the ecopr

 

[steaky]

Hey guys, here's the context of my situation. I bought a pre-construction house in 2021, and it's not closing yet (expected to get final closing in 1st quarter 2024).
When I bought the house in 2021, I was not a PR yet, and I had the work permit. And I recently got my ecopr, and I am just wondering what I should do to avoid paying the NRST given the fact that I am already approved as a PR in Canada. Thank you so much.

PS: I know that I can apply for new SIN with the ecopr

Here's what it says in the website below:

If you have applied to become a permanent resident of Canada, but you have not obtained that status at the time your home transaction closes, you must pay NRST unless you are eligible for an exemption. If you become a permanent resident of Canada after the home transaction closes, you may qualify for a rebate of the NRST if you meet specific requirements. Please see our Non-Resident Speculation Tax rebates and refunds page.

https://www.ontario.ca/document/non-resident-speculation-tax#section-3

 

[j795wang]

Hey Steaky, thank you so much for your response. I checked the website you listed above, and I didn't see a specific case like what I am having now. Because I received the ecopr, which means my PR application has been approved by IRCC already, does it imply that I have obtained the PR status already?

If that does imply I have obtained that status, should I just update my SIN number on my purchase agreement to show that I am PR already?

 

[steaky]

Hey Steaky, thank you so much for your response. I checked the website you listed above, and I didn't see a specific case like what I am having now. Because I received the ecopr, which means my PR application has been approved by IRCC already, does it imply that I have obtained the PR status already?

If that does imply I have obtained that status, should I just update my SIN number on my purchase agreement to show that I am PR already?

Yes, having eCOPR does not mean you have PR status. You have to activate it first and become PR. I have already copy and paste the specific sentence in the above link which is relevant to you. Please read it again.

As for updaing SIN, did you give your temporary SIN when you purchase the house? Anyways, your lawyer will guide you at closing. You can even ask them the question for the time being..