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Land Transfer Tax Refund Increased
Thursday, January 5, 2017
The Ontario Land Transfer Tax refund has increased to $4,000 for eligible first-time homebuyers. If you are a first-time homebuyer, you will not have to pay a Land Transfer Tax on the first $368,000 cost of your new home.
The refund for the Land Transfer Tax is only available to you if you are a Canadian citizen or permanent resident, or if you have gained either status within 18 months of purchasing your first home in Canada.
Read the full announcement from the Ontario Ministry of Finance. Settlement.org has several articles on buying a home in Ontario.