First-time home buyers of new and re-sale homes are eligible for rebates on provincial and Toronto land transfer taxes. The maximum that first-time home buyers can receive for the Ontario provincial land transfer tax (LTT) is $4,000 and for the Toronto LTT its $4,475.
The provincial LTT is payable anywhere in Ontario, including Toronto. As mentioned before, the maximum that a first-time buyer can receive for the provincial LTT is $4,000.
Toronto LTT is payable only for properties in the City of Toronto. The maximum a first-time home buyer can receive is $4,475. The Toronto LTT rebates are in addition to any Ontario provincial LTT rebate the buyer qualifies for.
Real Estate Websites by Web4Realty