According to Ontario Ministry of Finance ,the Non‑Resident Speculation Tax (NRST) is a 15 per cent tax on the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe Region (GGH) by individuals who are not citizens or permanent residents of Canada or by foreign corporations (foreign entities) and taxable trustees. The GGH area stretches north to Georgian Bay, south to Lake Erie, west to Wellington County and Waterloo Region, and east to the counties of Peterborough and Northumberland.