Toronto Land Transfer Tax Rebate
Real estate investment news and tips from New Condo Centre.
First-Time Buyer Rebate
You may be eligible for a rebate of the MLTT if you are a first-time purchaser.
You are a first-time purchaser of a newly constructed or re-sale residential property with two or less single-family residences. The rebate for first-time purchasers is up to a maximum of $3,725.00.
If you are eligible for a rebate of the entire amount of MLTT you owe, you will receive an automatic rebate when your lawyer registers your property transaction and will not have to pay the tax.
If you are eligible for a rebate for a only a portion of the MLTT, the full tax will be collected at the time your lawyer registers your property transaction. Once your lawyer submits your rebate application form and affidavit, a cheque for the rebated amount will be sent to the purchaser.
All rebates will be automatically deducted from the MLTT owing at the time your property is registered.
See immediate returns by getting first access to pre-construction condos across the Greater Toronto Area. Registration is quick and easy.