ON – Land transfer tax refund available for first-time homebuyers

First-time homebuyers in Ontario may receive a refund of part or all of the land transfer tax (LTT) paid on their home purchase, to a maximum refund of $2,000.

If the refund is claimed when the home transfer is registered, it can reduce the LTT which would usually be payable at that time. Otherwise, the homebuyer can apply to the Ontario Ministry of Revenue for the refund within 18 months of the home purchase date. The documentation requirements for that application are outlined on the Ministry of Revenue Web site at http://www.rev.gov.on.ca/en/refund/newhome/index.html.

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