Call Marg: 705-446-1762

The proposed measure to extend the refund of land transfer tax to first-time Buyers of resale homes has now received royal assent and became law on May 14th, 2008.

Under this program, first-time homeBuyers of resale homes with agreements of purchase and sale entered into after December 13, 2007 can qualify for a refund of up to $2,000.00 of the land transfer tax paid.

Requirements to qualify for a refund include:

The purchaser must be at least 18 years of age.
Applications for a refund must be made within 18 months after the date of conveyance or disposition.
The purchaser must occupy the home as his or her principal residence within 9 months of the date of the conveyance or disposition.
The purchaser cannot have previously owned a home or had any ownership interest in a home, anywhere in the world.
A spouse of the purchaser cannot have owned a home or had any ownership interest in a home, anywhere in the world while he or she was the purchaser’s spouse.
Use this chart to easily calculate land transfer tax due on a purchase.

Do you like what you’re reading?  Click here to subscribe  and we’ll send new blog posts directly to your email inbox.  P.S.  Bloggers like comments!

Related Posts:

Real Estate Closing Costs
Oh,oh.  The Tax Assessment Freeze in Ontario Has Thawed Out
You Can Pay Your Mortgage Off Faster

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg

Monthly E-Newsletter

Marg Scheben-Edey

Real Estate Broker
Market Value Appraiser - Residential
Accredited Green Broker™
(designated by the National Association of Green Agents & Brokers)

RE/MAX four seasons
realty limited, Brokerage
Each Office Independently Owned & Operated
67 First Street, Collingwood L9Y 1A2

Contact Marg

 Direct: 705-446-1762

Prefer Text? 705-446-5066

Email Marg

© Copyright 2017 collingwood-bluemountain.com. All Rights Reserved.

Privacy Policy | Sitemap

Get Marg's Newsletter Delivered to Your InboxMonthly

Hey, it never hurts to know more about the local market and the goings on, does it? Stay “in-the-know” about the South Georgian Bay real estate market as well as local news, great new businesses and other fun stuff. At least you’ll have some impressive local trivia at the next cocktail party! Now, I just need a little info from you. (This information will never be shared – I promise!)

Success!

Pin It on Pinterest