Land Transfer Tax Refunds for First-Time Homebuyers
When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time homebuyers of an eligible home may be eligible for a refund of all or part of the tax.
To claim a refund, you must be at least 18 years of age, you cannot have owned a home or an interest in a home anywhere in the world, and your spouse cannot have owned a home or interest in a home, anywhere in the world while he or she was your spouse. Previous ownership in a home means you do not qualify for the land transfer tax first-time homebuyers refund. The method of acquiring the home (e.g., purchase, gift or through an inheritance) is not relevant.
Original Article Source Credits: Ministry of Finance , https://www.fin.gov.on.ca/
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Link to Original Article: https://www.fin.gov.on.ca/en/bulletins/ltt/1_2008.html