If legislation passes, the tax would be effective retroactively to April 21.
The most recent possibility floated by the Ontario government is a "non-resident speculation tax", but the province hasn't yet said how exactly that tax would work. The Federation of Rental-housing Providers of Ontario (FRPO) said it's disappointed and concerned with the proposed changes because they were made "without formal consultation" with the industry responsible for rental housing.
Ontario's provincial government said it will apply a 15 percent levy on non-Canadian citizens, non-permanent residents and non-Canadian corporations buying residential properties containing one to six units in the greater Toronto area. "They are only looking for a quick profit or a safe place to park their money", she said.
After two consecutive years of double-digit gains, the price of an average house in Toronto jumped to C$916,500 ($925,600) last month, a 33 per cent increase on the year-earlier month; the average price of a detached home topped C$1.2 million.
Experts say measures introduced by the Ontario government to cool the red-hot housing market are likely to leave a lot of the buyers on the sidelines as they await to see the impact of the changes.
"When young people can't afford their own apartment or can't imagine ever owning their own home, we know we have a problem", Ms. Wynne said.
Another major element in the province's plan is the expansion of rent to control to cover all private rental units, closing an existing loophole that limits rent control to buildings constructed before 1991.
Home Capital's stock dropped 19 percent to C$18.10 at 1:56 p.m.in NY, the biggest decline in nearly two years.
VW's latest all-electric concept is a crossover Furthermore, a new "CleanAir" filtration system ensures high air quality inside the vehicle - whatever the conditions outside. Crozz Crossover concept will be compact looking and will have a lowered roofline than that of 2018 Tiguan.
Today, I met with Bill Morneau, Federal Minister of Finance, and John Tory, Mayor of Toronto, to discuss new ways to collaborate to address rising housing and rent costs, and share information across jurisdictions. I am pleased that the government will activate surplus provincial land like the West Don Lands to create new affordable housing, something I have been urging the Premier to do for some time.
Other government actions included in Ontario's Fair Housing Plan include plans to make it possible for Toronto to apply a vacant-home tax and even setting a timeline for elevator repairs, which can be a headache for high-rise dwellers.
Premier Kathleen Wynne's Liberals are widely expected to reveal housing policy measures when Sousa issues his budget on April 27.
There will be a new five-year $125-million program to encourage the construction of new rental apartments by rebating builders a chunk of development charges.
The news release continued to state that FHP lists a set of 16 comprehensive measures, which in addition, to stabilising real estate market in enabling more people find an affordable place, would also protect interests of renters and the investment of homeowners. That kind of tax would discourage speculation and make it more expensive to "flip" homes, he said.
This comes as policymakers complained that Canadian data on real estate transactions is lacking compared to other jurisdictions.
The plan also includes establishing timelines for elevator fix so that they aren't broken so often in condos and apartments.
But the meetings could indicate how forcefully the US will pressure Japan to further open its farm and automotive sectors. North Korea attempted to launch a ballistic missile Sunday but failed, US and South Korean military officials said.
Vargas is 2-0 with a 0.66 ERA in his first two starts this season. "It was just one of those days where I had to grind it out". The bat wound up finding a hole in the netting behind the plate and struck a fan, and Posey motioned to him to keep it.
Any US strike on North Korea could prompt retaliation against allies or US forces in South Korea or Japan. The parade also featured the "Pukguksong-2", a land-based variant of the submarine-launched missile.
Nunes later acknowledged that details had been shared with him by a secret source on the White House grounds. A planned closed hearing with Comey and Rogers, who had testified publicly on March 20, also was put off.
This is according to Citigroup, Inc., which says the Switch is ultimately too bulky for children to use easily (via Bloomberg ). Thus, the 2DS, which is one solid hunk of plastic that plays all 3DS games perfectly.
A spokeswoman from the supplier told AFR in an email that it is now working with Tesla to resolve the issue. Tesla , in the past, has also recalled 2,700 Model X units due to the problems in third-row seats.
Trump outraged China in December when he took the unorthodox step of accepting a phone call from the Taiwanese president. The most powerful message for the Chinese leader may have been Trump's decision to launch USA missile strikes at Syria.
State said in a press release it will host six future NCAA competitions, including the 2020 and 2022 women's gymnastics regionals. The board also announced any championship previously award to North Carolina for the 2017-2018 season would remain in the state.
Wide receiver Malcolm Mitchell said he was moved by the White House ceremony, saying it "almost brought me to tears". Defensive back Devin McCourty said he wouldn't attend because he doesn't feel welcome at the White House.
Residents of the housing complex in IN were joined by environmental activists as they protested nearby before Pruitt arrived. Housing officials said their goal is to move out all families by May. "We can't drink the water".
While Chaffetz's decision removes a high-profile foe of House Democrats, the seat he will vacate does not appear ripe for pickup. One of the most well-known Republican members of the House of Representatives won't be running for re-election.
Judge's big blast helps Yankees cap grand homestand
Leading the way heading into Tuesday was Avisail Garcia with 21 hits, eight runs and 10 RBI. "I never seen anything like that". Chicago made it 4-0 in the seventh after Tim Anderson singled, just the second ball the White Sox hit out of the infield.
Suspect in Facebook video killing shoots himself to death
Nearly 400 tips were called in, Williams said, emphasizing the important role the public played in helping to locate Stephens. Stephens was placed on the FBI's most wanted list and attracted a $50,000 bounty for information leading to his arrest.
Red Sox edge slumping Blue Jays 8-7
Happ (left elbow) on the 10-day disabled list before the game and recalled utilityman Ty Kelly from triple-A Buffalo. Right-hander Ben Taylor was recalled from Triple-A Pawtucket to take Rodriguez's roster spot for the game Monday.