First time home buyers
Land Transfer Tax Refund
Land transfer tax applies to all transfers of land ( conveyances ) in Ontario and the tax payable is calculated at a progressive rate on the value of the consideration ( purchase price ) paid for the home.
- First time home buyers may be eligible for a refund of all or part of the tax payable.
- For agreements of purchase and sale entered into after December 13, 2007.
- The refund applies to all homes, whether newly constructed or resale.
Who can qualify for Refund
- You must be at least 18 years old.
- Applications for refund must be made within 18 months of the date of registration.
- You must occupy the home as principle residence no later than nine months from the date of registration.
- Cannot have previously owned a home, or an interest in a home, anywhere in the world.
- Your spouse/partner, cannot have owned a home, while he/she was your spouse/partner.
Amount of Refund
- The amount of the refund will be the entire amount of tax paid or payable, up to a maximum of $2,000.
- Additional "Toronto Land Transfer Tax" rebate for first-time home purchasers is up to a maximum of $3,725.
- The refund will be proportionate to the interest acquired by the individuals who qualify for the refund.
- If you own less than 100% interest, the amount will be reduced & calculated according to the amount of your interest in the home.
- The amount of the refund claimed will, if granted, offset the land transfer tax payable, the maximum amount refundable is $2,000.
- The refund will be reduced if one or more of the purchasers are not a first-time home purchaser.
How to apply for Refund
- Qualifying purchaser may claim an immediate refund at time of registration.
- Registering electronically - complete the required statements of the electronic land transfer tax affidavit.
- Registering on paper - complete the Ontario Land Transfer Tax Refund Affidavit For First Time Purchasers of Eligible Homes at the Land Registry Office.
- If the refund is not claimed at registration, the tax must be paid in full & a claim for the refund may be submitted directly to the Ontario Ministry of Revenue.
Land Transfer Tax Calculator
For more & up-to-date information please visit Ontario Ministry of Revenue's web page
Land Transfer Tax Refunds For First-Time Homebuyers