First-time buyers of BOTH re-sale, and newly constructed homes, will be eligible for a rebate of the provincial land transfer tax of up to $2000...
As announced in the 2007 Ontario Economic Outlook and Fiscal Review, the government proposes to expand the Land Transfer Tax Refund Program to include first-time homebuyers of resale homes. This measure would be effective for agreements of purchase and sale entered into after December 13, 2007. As a result of this change, first-time homebuyers of resale homes would be able to receive a refund from the provincial government of up to $2,000 of the land transfer tax paid.
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David Pylyp
RE/MAX Realty Specialists Inc., Brokerage
905 272 3434 or direct at 647 218 2414
