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A Tax Break for First-Time Buyers!

Ontario offers 1st-time homebuyers bigger tax break

To help Ontarians buy their first home, the Province is proposing to double the maximum refund for first-time homebuyers from $2,000 to $4,000, effective January 1, 2017.


The Province is proposing to modernize Ontario’s Land Transfer Tax (LTT) system to reflect developments in the real estate market, by: 

  • Enhancing support for first-time homebuyers;
  • Updating LTT rates and brackets; and
  • Restricting the refund for first-time homebuyers to Canadian citizens and permanent residents.

Doubling the Maximum Refund for First-Time Homebuyers 

To help Ontarians buy their first home, the Province is proposing to double the maximum refund for first-time homebuyers from $2,000 to $4,000, effective January 1, 2017.  read more..................


Rising house prices will boost land transfer tax revenues by 15% this year, province says more info here.......


#1stTimeBuyers  #LandTransferTax  Information for 1st-Time-Buyers

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