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Jay Singh, B.Sc.
Sales Representative
(since 1987)




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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

 

 

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