HOME OWNER INCENTIVES
Land Transfer Tax Rebate Program extended to resale homes ....
First time buyers of resale homes are now eligible for a refund from the provincial government of up to $2000 of the land transfer tax paid.
The expanded land transfer tax refund program for first time homebuyers is part of a package of new tax initiatives announced by Finance Minister Dwight Duncan in the 2007 Fall Economic Outlook and Fiscal Review.
Getting the refund
For resale homes a properly completed form Ontario Land Transfer Tax Refund Affidavit for First-Time Purchasers of Eligible Homes (Resale) must be submitted along with:
- A copy of the registered instrument on which land transfer tax was paid (in the case of electronic registration, include a copy of the docket summary which relates to the transaction);
- A copy of the agreement of purchase and sale (only those agreements of purchase and sale entered into after December 13, 2007 may qualify) along with a copy of the statement of adjustments.
Refund applications on resale homes cannot currently be made electronically.
More information regarding eligibility requirements and other details can be found at: Ministry of Revenue - Land Transfer Tax. You can also call the Ministry of Revenue at 905-433-6361 to learn more.
Contact Tom Irwin for more information.
for internet marketing, web site design, development, promotion, and maintenance.
For more details call Tom Irwin. tel: (705) 328-5424 [Direct]