The province of Ontario is now proposing a 15 per cent foreign tax on residential properties in the Greater Golden-Horseshoe. The legislation is an effort to cool down the real estate markets in Canada’s two major cities. If it is passed, it would apply from today .

Will it have the same affect in Toronto as it had in Vancouver?

If it is passed, this could also mean foreign buyers will be looking elsewhere. Could other major cities in Canada be affected?