New Ontario LTT Rebate
Effective January 1st, 2017, Ontario has doubled the land transfer tax rebate for first-time home buyers from $2,000 to $4,000. That means that a first-time home buyer will pay no provincial tax on homes sold for $368,000 or less.
Ontario REALTORS® lobbied hard for the improved rebate. If you want to know more about how this could effect you as a first time home buyer, please visit: www.FirstHomeRebate.ca You’ll find an informative video and calculator that can help you figure out how much tax relief you can claim on your first home.