Toronto Land Transfer Tax Rebate
In Addition to the Ontario Rebate, you may qualify for a rebate of the Toronto LTT, if such is applicable. For First time home buyers, the Toronto Land Transfer Tax Rebate is a maximum of $4,475. Given the current Land Transfer Tax Rates, this could mean you are eligible for a full rebate of Land Transfer Tax if the value of your home is less than or equal to $400,000.
The same stipulations apply to the Toronto Rebate, as with the Ontario Land Transfer Tax Rebate:
- Citizen of Canada or Canadian Permanent Resident
- At least 18 years of age
- Occupy the home personally within 9 months of its purchase
- Never owned a home
- Your spouse (if applicable) can never have owned a home as long as they have been your spouse.
- In the event that your spouse does not qualify, you can still be eligible for up to 50% of the rebate