Crack Down on Foreign Ownership Crack Down on Foreign Ownership A re-elected Liberal government will: Ban foreign money from purchasing a nonrecreational, residential property in Canada for the next two years, unless this purchase is confirmed to be for future employment or immigration in the next two years. Extend Canada’s first-ever national tax on nonresident, non-Canadian owners of vacant, underused housing, announced to begin on January 1, 2022 to include foreign-owned vacant land within large urban areas. Work with provinces and municipalities to develop a framework to better regulate the role of foreign buyers in the Canadian housing market so that this money does not deter housing from being available for, and used by, Canadians. Share