Did You Know?
First Time Home Buyers Pay less land transfer taxes.
In Toronto there is an additional Land Transfer tax that is paid also by First Time Home Buyers
Example for a property of 500,000
First Time Home Buyers
-in Toronto pay $6475
-In Ontario outside Toronto pay $4475
First Time Home Buyers Pay less land transfer taxes.
In Toronto there is an additional Land Transfer tax that is paid also by First Time Home Buyers
Example for a property of 500,000
First Time Home Buyers
-in Toronto pay $6475
-In Ontario outside Toronto pay $4475
Ontario Land Transfer Tax
0.5% - first $55,000
1.0% - between $55,000 - $250,000
1.5% - over $250,000
2.0% - over $400,000
Qualifying first time home buyers receive a $4000 credit from January 1 2017
Toronto Land Transfer Tax
0.5% - first $55,000
1.0% - between $55,000 - $400,000
2.0% - over $400,000
First time buyers are exempt on the first $400,000 approx $3700 rebate
