Nova Scotia Non-Resident Property Tax

The government is creating a provincial residential property tax applicable to non-resident owners. We want to make sure people can afford a place to call home and build their lives here. As introduced in Budget 2022-23, this non-resident property tax is $2 per $100 of assessed value and is effective as of April 1, 2022. If non-resident owned housing is rented out for 12 months or longer, then they will not have to pay the tax, as they are providing homes for Nova Scotians. When a property has multiple owners, an exemption from this tax is provided if 50 per cent or more of the owners are residents of Nova Scotia. Legislation is expected to be introduced in the Financial Measures Act 2022. Further details will be shared in due course. 
 

Non-Resident Provincial Deed Transfer Tax

Housing for Nova Scotia residents needs to be more attainable and available. Nova Scotia is creating a provincial deed transfer tax for property purchased by non-residents of Nova Scotia. This deed transfer tax of five per cent will be assessed from April 1, 2022. All purchasers of residential properties who are residents of Nova Scotia are exempt from the deed transfer tax. If someone is planning to move to Nova Scotia to live and buys a home, they will be exempt from the deed transfer tax – usually within six months. Legislation is expected to be introduced in the Financial Measures Act 2022. Further details will be shared in due course. 

Click here for the Government of Nova Scotia webpage.

Q&A: New Provincial Taxes

Who do these taxes apply to?
These taxes apply to people who do not live in Nova Scotia but own or buy property here.

When are these taxes being implemented?
These taxes are being implemented today, April 1, 2022.

Are these taxes in addition to municipal taxes?
Yes.

The provincial Deed Transfer Tax for Non-residents is not related to the municipal deed transfer tax.  It is a separate, additional tax of 5 per cent.

The provincial Property Tax for Non-residents is not related to the property taxes levied by municipalities. It is an additional property tax of $2.00 per $100 of assessed value.


Are there exemptions to these taxes?
Yes.

The Deed Transfer Tax for Non-residents will not apply to transactions where the Agreement of Purchase and Sale was entered into prior to April 1, 2022.
Non-resident purchasers who move to the province within 6 months of the closing date will be exempt.

The Nova Scotia Non-Resident Property Tax will not apply to residential properties that contain more than 3 units. It will not apply to residential properties that are leased to individual Nova Scotian residents for a period of at least 12 months. An exemption from this tax will be provided if 50 per cent or more of the owners are residents of Nova Scotia.


Do these taxes apply to vacant land?
Yes. These taxes apply to vacant land that is zoned residential.

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