Land Transfer Tax Rebates
First-time homebuyers who live in Canada (Toronto , Etobicke , Mississauga , Brampton, Milton and GTA) can qualify for rebates on provincial and land transfer taxes if you satisfy the following terms:
- Must be a Canadian Citizen or Permanent resident of Canada.
- Must be of 18 years or above,<
- Must move in the house within 9 months of purchasing it.
- Must be first-time home buyer.
- You spouse must not owned a house during the time they have been your spouse.
Toronto Land Transfer taxes:
Toronto LTT is payable only if the property is in the City of Toronto. Based on the Toronto land transfer tax rates, this rebate applies whether you are planning to buy a condo, townhouse or house. It will cover the full tax amount upto $4,475 if the purchase is of $400,000. If couple is buying the house but only one person is eligible for this rebate then they will still recieve 50% of the rebate.