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

HST Housing Rebate

The purchase price of resale homes are exempt from HST, however, the purchase price of newly constructed homes are subject to HST.

New home buyers can apply for a 36% rebate of the GST (federal portion of HST) on the purchase price to a maximum of $6,300 for homes costing $350,000 or less. For new homes priced between $350,000 and $450,000, the GST rebate would be reduced proportionately. New homes priced $450,000 or higher would NOT receive a rebate.

Also, new home buyers can apply for a 75% rebate of the PST (provincial part of HST) on the purchase price to a maximum rebate of $24,000.