(416) 363-3351
 

News & Events

Land transfer tax rebate

Jan 08, 2014



Land-transfer tax is paid to the government at approximately 1.5% of the purchase price.

Rules for Land-Transfer Tax

If you own or have owned a home you are not eligible for the rebate.

If you have never owned a home but your spouse has during the time you were each others spouses then neither of you are eligible.

If your spouse owned a home prior to you becoming spouses you would be eligible but not your spouse.

"Spouses" includes common-law partners of at least 3 years or are in a relationship of some permanence if natural or adoptive parents of a child.

Consult your lawyer to maximize a potential rebate while not evading any taxes.

Adapted from Jeff Cowan -Legal Matters