The Magazine · Tagged
Taxes
Toronto Vacant Home Tax: What You Need to Know About Filing Your Declaration
Discover everything you need to know about Toronto’s Vacant Home Tax, including the 2025 declaration deadline and essential filing details to avoid penalties. This comprehensive guide explains who must declare, how to file, and the increased 3% tax rate for vacant properties, empowering homeowners to stay compliant and contribute to housing availability. Learn about key deadlines, exemptions, and resources to simplify the process. Stay informed and ensure your property is properly declared. Read now to protect your investment and stay ahead in Toronto’s real estate market.
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It’s that time of year again - Toronto’s vacant home tax - revisited
Toronto's evolving real estate landscape has introduced a significant policy: the Vacant Home Tax (VHT) in 2022. Aimed at addressing housing affordability and availability, this tax impacts property owners in the city who might have vacant residential properties. Here, we outline the key aspects of the VHT, its exemptions, and compliance requirements, to assist homeowners and investors in navigating this new terrain.
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Non-Resident Speculation Tax Increasing March 30, 2022
As part of its commitment to tackle Ontario’s housing crisis by prioritizing Ontario families and homebuyers, the government is increasing the Non-Resident Speculation Tax rate to 20 per cent, closing loopholes to fight tax avoidance and expanding the tax to apply provincewide effective March 30, 2022.
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