No More New Buffalo Residents In Canada In 2023?

As 2022 dwindles, there are some new laws that we all need to be ready for and one of them is catching some off guard. We are blessed to have the ability to travel in and out of Canada but it sounds like are new restrictions coming our way.

Every year there are news laws and legislation that gets pushed through or passed and most of us don't even notice. There may be some laws that pass that increase taxes or place restrictions on things around us and yet we don't have a clue about them. Unless you dig a little or affects you directly, these laws seem to be non existent. But there is a law that will start in 2023 that will last at least two years and will affect those looking to buy some property over the border.

According to dentons.com:

Starting January 1, 2023, non-Canadians will be prohibited from purchasing residential real estate in Canada for a period of two years under the newly enacted Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act).1

There are some who say that this new legislation is opposite of what Canada has been known to be. A welcoming country that embraces bringing in new people to the nation as residents.

The new year will be here soon and this is only one law that some are talking about. Here in New York, much of the focus lately has been on toll hikes on the Thruway and the new laws that will soon go in that force people to become more energy efficient.