Alexandra handles real estate purchases, sales, and refinance transactions throughout the province of Ontario. Her years of experience permit her to provide clients with a full range of real estate legal services specific to her clients’ needs.
FIRST-TIME HOME BUYER REBATE
Both Ontario and the City of Toronto offer land transfer tax rebates for first-time home buyers to offset the tax. The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $2,000. First-time home buyers in Toronto of new and resale homes are eligible to receive a refund up to a maximum of $3,725.
Source: Ontario Ministry of Revenue, "Land Transfer Tax Refund for First-time Homebuyers"
Source: City of Toronto, "Municipal Land Transfer Tax"
LAND TRANSFER TAX
Land Transfer Tax (LTT) is payable to the Ontario government at the time we close your purchase transaction. For properties located in Toronto there is an addition Municipal Land Transfer Tax (MLTT) payable to the City of Toronto.
The Ontario LTT rate:
The Toronto MLTT rate:
Land Transfer Calculator Website: Click here
Contact Alexandra by phone or by email to receive your competitive quote and discuss any questions you have.