Budget 2026 proposes extending the ban on foreign home buyers to 2029
The budget tabled on November 5, 2026 proposes extending the ban on foreigners buying existing homes by two years, to January 1, 2029, and excluding new homes from the ban. The ban currently runs to January 1, 2027; tax rates and the taxable share of gains (one half) are unchanged. The Bank of Canada raised its rate to 2.50% on October 28, 2026.
What this changes in the calculation
Savings rates unchanged; for a purchase by a foreigner after January 1, 2027, a “may be extended” note.