LAND TRANSFER TAX REBATES

To qualify when you buying a house or condo in Toronto or anywhere else in Ontario you must meet the following criteria to qualify for the rebate(s)

• You must be a Canadian citizen or permanent resident of Canada
• ​You must be 18 years of age or older
• You must live in the home within 9 months of purchasing it
• You cannot have owned a home before
• If you have a spouse, they cannot have owned a home during the time they have been your spouse.

Your lawyer will process the rebate applications on final closing of your property. To calculate the amount of land transfer tax you will pay, see the Land Transfer Tax Calculator.

Toronto Land Transfer Tax Rebate

First-time homebuyers who buy in Toronto can qualify for a rebate equal to the full amount of their municipal (Ontario) land transfer tax, up to a maximum of $4,475. As long as you meet the criteria above it doesn't matter if you buy a condo or house. You will also be able to apply for the Ontario rebate as shown below.

Based on the Toronto land transfer tax rates, the rebate will cover the full tax amount up to a maximum sales price of $400,000. For condos or houses with sales price over the $400,000 amount, you still qualify for the maximum rebate, however you will still be responsible for the balance of the land transfer tax. If you are buying your home with a partner, friend or family member, but only one of you qualifies for this rebate, you can still receive 50% of the rebate.

Ontario Land Transfer Tax Rebate

First-time homebuyers who buy in the province of Ontario can qualify for a rebate equal to the full amount of their land transfer tax up to a maximum of $4,000. Again it doesn't matter if you buy a condo or house. You will also be able to apply for the Toronto rebate if you buy in the city of Toronto

To calculate based  upon the Ontario land transfer tax rates, the rebate covers the full tax amount up to a maximum purchase price of $368,333. For condos or homes with a sale price over the $368,333 amount, you still qualify for the maximum rebate, however you will still be responsible for the balance of the land transfer tax. If you are buying your home with a partner, friend or family member, but only one of you qualifies for this rebate, you can still receive 50% of the rebate.