Land Transfer Tax Rebates (Provincial and Municipal)

First-time home buyers of new and re-sale homes are eligible for rebates on the provincial and Toronto land transfer taxes. The maximum provincial rebate is $2,000 and the maximum Toronto rebate is $3,725.

Provincial LTT:

• The maximum rebate of $2,000 is equivalent to the LTT paid on a $227,500 property.
• Calculation of the LTT is as follows; 0.5% of the purchase price to $55,000, plus, 1% between $55,000 and $250,000, plus, 1.5% between $250,000 and $400,000, plus, 2% above $400,000

Toronto LTT:

• The maximum rebate of $3,725 is equivalent to the LTT paid on a $400,000 property.
• Toronto LTT is in addition to any provincial LTT.
• Calculation of the LTT is as follows; 0.5% of the purchase price to $55,000, plus, 1% between $55,000 and $400,000, plus, 2% above $400,000.

For an easy-to-use LTT calculator, visit www.nohomebuyingtax.com