Suzana Davies Sales Representative ®
RE/MAX Realtron Realty Inc., Brokerage*, Brokerage Independently owned and operated
Mobile: 416-843-7017

REAL ESTATE UPDATE:LAND TRANSFER TAX ~ TORONTO ~ GTA

URGENT UPDATE!

Purchasers MUST be either a Canadian Citizen or Permanent Resident of Canada to Claim the Land Transfer Tax Refund.

CHANGE OF DEFINITION OF "PURCHASER" WHO QUALIFY FOR PROVINCIAL LAND TRANSFER TAX REFUND FOR FIRST-TIME HOME BUYERS

Registrants are reminded of the new definition of "purchaser" as set out in subsection 9.2(1) of the Land Transfer Tax Act.

 

In addition to previous eligibility criteria, in order to claim the refund on registrations completed on or after January 1, 2017, a purchaser must be a Canadian Citizen or Permanent Resident of Canada. A Permanent Resident of Canada means a permanent resident as defined in the Immigration and Refugee Protection Act (Canada).

 

The new definition applies to all registrations based on agreements of purchase and sale entered on or after November 14, 2016.

 

The new definition has not resulted into any changes to the Land Transfer Tax statements that must be completed when claiming the provincial land transfer tax refund for first-time homebuyers. 

For further information, please contact the Ministry of Finance:

 

Ministry of Finance

Compliance Branch

Tax Compliance & Benefits Division

PO Box 625

33 King St. West

Oshawa, ON L1H 8H9

 

Tel: 1 (866) 668 ONT TAXS

Fax: 1 (905) 433 5770

Teletypewriter (TTY): 1 (800) 263 7776

Website: ontario.ca/finance

Your Friend in Real Estate,

Suzana ( Sue ) Davies , Sales Representative Remax Realtron

suzdavies@trebnet.com   416-843-7017   www.suzanadavieshomeseek.com

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Suzana Davies Sales Representative ®
RE/MAX Realtron Realty Inc., Brokerage*, Brokerage Independently owned and operated
Mobile: 416-843-7017

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 12/9/2017 7:42:39 AM