How will the Non-Resident Tax Affect Homeownership Costs in Nova Scotia?

Last week, the Provincial Government released a budget that included newly created Deed Transfer Taxes for Non-residents and increased Property Taxes for Non-residents. Since this was announced, many people have had questions of how this will affect them as well as the real estate market in Nova Scotia. See below for more information quoted from the Province of Nova Scotia website:

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Provincial Deed Transfer Tax for Non-residents

The Provincial Deed Transfer Tax (PDTT) will be effective for all purchase and sale agreements and other specific transfers starting 1 April 2022.

The Provincial Deed Transfer Tax will apply to all residential properties or portion of…

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