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International Student buying property in Ontario but outside GTA

DrewanCheng

Newbie
Sep 10, 2020
2
0
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.
  • 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
My daughter and I are not citizens of Canada or permanent residents of Canada. My daughter will be attending university and she wants to buy a home in Toronto to live in while she attends the university. Does she have to pay the NRST?

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.
If she meets all of the requirements listed above, an application for this rebate must be made within four years after the date of purchase or acquisition.

Thank you in advance
 

canuck78

VIP Member
Jun 18, 2017
52,959
12,758
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.
  • 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
My daughter and I are not citizens of Canada or permanent residents of Canada. My daughter will be attending university and she wants to buy a home in Toronto to live in while she attends the university. Does she have to pay the NRST?

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.
If she meets all of the requirements listed above, an application for this rebate must be made within four years after the date of purchase or acquisition.

Thank you in advance
None of the locations that you are mentioning are in commuting distance from Toronto. What school is she attending and which campus. Will she be driving? Is she comfortable driving on major highways.
 

steaky

VIP Member
Nov 11, 2008
14,298
1,628
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None of the locations that you are mentioning are in commuting distance from Toronto. What school is she attending and which campus. Will she be driving? Is she comfortable driving on major highways.
OP (parent of international student) planned to buy a home in any location outside GTA. Western Ontario University is outside GTA.
 

DrewanCheng

Newbie
Sep 10, 2020
2
0
None of the locations that you are mentioning are in commuting distance from Toronto. What school is she attending and which campus. Will she be driving? Is she comfortable driving on major highways.
I just want to know if international students are really eligible for rebates as the property TAX in GTA for international student is 15%.
If outside the GTA, the link shows that there is international students rebates. In regards of your question, there is also a school outside GTA which is Fanshawe College
 

rmacraj

Member
Feb 13, 2020
13
0
I just want to know if international students are really eligible for rebates as the property TAX in GTA for international student is 15%.
If outside the GTA, the link shows that there is international students rebates. In regards of your question, there is also a school outside GTA which is Fanshawe College
International students are eligible for Property Tax Rebates provided they meet the below conditions as mentioned by you earlier.

  • 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.
Note that you need to pay NRST of 15% only if you buy property in Greater Golden HorseShoe Region. You can google for maps of this region.
 

canuck78

VIP Member
Jun 18, 2017
52,959
12,758
I just want to know if international students are really eligible for rebates as the property TAX in GTA for international student is 15%.
If outside the GTA, the link shows that there is international students rebates. In regards of your question, there is also a school outside GTA which is Fanshawe College
Fanshawe is not a university. You really should be looking at schools and getting admission first. None of these locations make sense for any GTA schools. If she wants to attend Western then some of these locations make sense but St Thomas is still a really small community and a pretty long drive to Western university. It wouldn’t make sense for an international student to move to St Thomas.