Hello from Ottawa. One question I often get asked by some of my clients is whether they can purchase a property. For several years now, both the Federal Government and the Ontario Provincial government tried to reign in the soaring real estate prices and multiple laws, and regulations by both orders of government have been implemented, which created a lot of confusion both for buyers and for real estate professionals. If you are a student on a study permit or a worker on an open or sponsored work permit, you probably are wondering how these new regulations affect you. I will try my best to explain how these new laws and regulations will affect you. If you need specific advice for your situation, please contact me directly. What is the Prohibition on the Purchase of Residential Property by Non-Canadians Act and The Non-Resident Speculation Tax (NRST) In Canada, both Federal and Provincial governments can pass legislation and regulations on matters related to their perspective legislativ...