If you’re classified as a foreign person, you must pay an eight per cent surcharge on the value of any residential land you buy.
This is known as surcharge purchaser duty, and it's in addition to any transfer duty.
You may also have to pay surcharge purchaser duty on other types of transactions, such as declaring a trust or transferring a lease.
Foreign corporations and trusts may also have to pay the surcharge.
You’re generally considered a foreign person, unless:
When you buy residential property, you must complete a purchaser/transferee declaration and provide supporting documents so we can determine whether you must pay surcharge purchaser duty.
If there are multiple purchasers/transferees, everyone must complete a declaration.
Other supporting outlined in the explanatory notes must be provided upon request.
For more information about foreign persons and surcharges, contact us.