Can an international Student able to buy property? I did some search and here are the things I found.
1. Google https://ibb.co/jyP3pbK at least 35% downpayment.
2. In regards of NRST tax, I am planning in London, St Thomas or any location outside GTA.
https://www.fin.gov.on.ca/en/bulletins/nrst/ <-- stated that international students is eligible for rebates.
The NRST will be payable on the purchase of the home. She may apply for a rebate of the NRST once the following conditions are met:
Thank you in advance
1. Google https://ibb.co/jyP3pbK at least 35% downpayment.
2. In regards of NRST tax, I am planning in London, St Thomas or any location outside GTA.
https://www.fin.gov.on.ca/en/bulletins/nrst/ <-- stated that international students is eligible for rebates.
- International student – The foreign national is a student who has been enrolled full-time for a continuous period of at least two years from the date of purchase or acquisition in an “approved institution” (under section 8 of Ontario Regulation 70/17 of the Ministry of Training, Colleges, and Universities Act) at a campus located in Ontario. Full-time means enrolled in at least 60 per cent (if the individual does not have a disability) or 40 per cent (if the individual has a disability) of what the approved institution considers to be a full course load for the academic year, or
The NRST will be payable on the purchase of the home. She may apply for a rebate of the NRST once the following conditions are met:
- the home must be purchased only by your daughter (or your daughter and her spouse, if applicable)
- neither you nor anyone else has any beneficial interest in the home
- she is enrolled as a full‑time student for a continuous period of at least two years in an “approved institution” (as outlined in Ontario Regulation 70/17 of the Ministry of Training, Colleges, and Universities Act) at a campus located in Ontario, and
- the house is occupied as her principal residence within 60 days after the date of the purchase or acquisition, for the two year period set out above.
Thank you in advance