Land Transfer Tax Rebate

Please note that this information is outdated

In December of 2007, proposed amendment's to the Land Transfer Tax Act were announced in the 2007 Ontario Economic Outlook and Fiscal Review. These proposed amendments need to be passed by the Legislature and receive Royal Assent to become law.

The proposal is to include Resale Homes in the Land Transfer Tax Refund Program, for First-Time Homebuyers, to a maximum of $2000.00. This proposal was effective as of December 13, 2007. Agreements of Purchase and Sale that were entered into after December 13, 2007, could possibly qualify.

Until the proposed changes pass through the Legislature and receive Royal Assent the following will apply to First-Time Homebuyers of Resale Homes.

• Land Transfer Tax must be paid at registration
• A copy of the Agreement of Purchase and Sale, a copy of the registered instrument on which the land transfer tax was paid, and a properly completed form - Ontario Land Transfer Tax Refund Affidavit must be submitted to the Ministry of Revenue

The applicable refund will be paid once the Proposals become Law

For full eligibility requirements go to the following link:

http://www.rev.gov.on.ca/english/notices/ltt/0207.html