COPR this week?

[Invincible84]

Its race against time now for me as i dont want get in another 1 yr lease and pay 2300/2400 rent when i am ready to buy but cant without CoPR...its so frustrating

yeah i am also in same situation...

 

[Paul48]

Its race against time now for me as i dont want get in another 1 yr lease and pay 2300/2400 rent when i am ready to buy but cant without CoPR...its so frustrating

Man, I totally feel you. I'm in the same situation and I don't accept losing money like this anymore. Not considering all the other life goals you may have (starting a company, ... )
I calculated that this little COPR game will probably cost me at least 100k in the long run. I'm so bitter and frustrated - it ain't how you should treat people working and paying taxes here. All these nice words about immigration targets and then you have people already here, highly qualified and productive left without proper status.
At this point I'm leaving in December, I'm sure COPR won't arrive in 2020 - I'll reconsider Canada once I'm PR with its rights. I wouldn't be surprised if this process will take 6-12 more months

 

[vddl]

everything is passed for me since more than a month. Eligibility, security, criminality since october....

With everything completed and biometrics refunded. A biometric refund is a kind of countdown to complete your file. I strongly feel that your COPR is coming soon.

 

[usmanshk]

Well my every step is passed and i got ny refund on November 13. Right after a month of exemption.

Lets see what happens next.

 

[vddl]

Well my every step is passed and i got ny refund on November 13. Right after a month of exemption.

Lets see what happens next.

Yes, you are too so close buddy. Hope for the best.
The way I am seeing this trend, March/April AOR's have a good chance this and next week.

 

[Toorkaur]

is eligibility review the last step??

 

[usmanshk]

Yes, you are too so close buddy. Hope for the best.
The way I am seeing this trend, March/April AOR's have a good chance this and next week.

Thanks alot. I am May 6 AOR. So lets see how it goes.

 

[nyiable]

Its race against time now for me as i dont want get in another 1 yr lease and pay 2300/2400 rent when i am ready to buy but cant without CoPR...its so frustrating

You can claim the foreigner property tax after getting PR.

 

[mikimiki]

You can claim the foreigner property tax after getting PR.

What is that and How does it work "foreigner property tax after getting PR" ? Thanks

 

[amco]

Its race against time now for me as i dont want get in another 1 yr lease and pay 2300/2400 rent when i am ready to buy but cant without CoPR...its so frustrating

Buy what ? Just show the bank your ITA and AOR and as long as they see that you have shown interest on staying they can get you the mortgage... If that’s what you meant.

 

[Paul48]

Buy what ? Just show the bank your ITA and AOR and as long as they see that you have shown interest on staying they can get you the mortgage... If that’s what you meant.

It's not about the mortgage, it's the "non-resident speculation tax" which applies to anyone non-PR or citizen buying real estate in GTA, Kitchener... It's 15% of the property value

 

[amco]

It's not about the mortgage, it's the "non-resident speculation tax" which applies to anyone non-PR or citizen buying real estate in GTA, Kitchener... It's 15% of the property value

really, I had no idea about this. So what you’re telling me is that if I bought a 100k house I would be paying 15k taxes if I was not a permanent resident when I bought the house ?!

 

[Paul48]

You can claim the foreigner property tax after getting PR.

True, but first you need to pay an additional 15% on top of the real estate price. Given Ontario real estate market 15% is going to be at least 100k, and then you need to wait to get it back

 

[Paul48]

really, I had no idea about this. So what you’re telling me is that if I bought a 100k house I would be paying 15k taxes if I was not a permanent resident when I bought the house ?!

Correct. However, if you buy a house where the non-resident speculation tax applies you are going to pay 15% on way more than 100k (more likely 700k at least due to the real estate prices )

 

[amco]

Correct. However, it is more likely that if you buy a house where the non-resident speculation tax applies you are going to pay 15% on way more than 100k (more likely 700k at least due to the real estate prices )

Thanks for the info, I just did my research and such tax applies only to the Greater Golden Horseshoe Region. Luckily enough I don’t live in this region, so I figured Im exempt.