What is the federal ban on non-Canadians buying residential property and how does it affect Ontario purchases?

The Prohibition on the Purchase of Residential Property by Non-Canadians Act is a federal law that restricts non-Canadians - generally meaning people who are not Canadian citizens or permanent residents, along with certain corporations and entities they control - from purchasing most residential property anywhere in Canada, including Ontario. It applies on top of, and separately from, Ontario's own Non-Resident Speculation Tax, which is a provincial tax rather than a purchase restriction; the two are administered by different governments and can each apply to the same purchase, both, or neither, depending on the facts.

The federal law comes with its own set of exemptions, covering situations like certain permanent-resident pathways, some temporary residents who meet defined conditions, and property located outside major urban areas, among others. Because it can bar a purchase outright rather than simply taxing it, getting this wrong carries more serious consequences than an NRST miscalculation.

The ban has already been extended more than once since it first took effect, so confirm its current end date and the exact exemptions that might apply before relying on any assumption about timing.