The Land Transfer Tax Refund Program for first-time buyers of new homes has been made permanent as of June 23, 2000.

The maximum refund amount has been raised to $2,000. This means you can purchase a new home for a price of up to $227,500, plus GST and qualify for the rebate.

There are no purchase deadlines to meet.

There are several eligibility requirements for the program. In order to qualify, new home purchasers must:

• Be at least 18 years old;
• Not have previously owned a home or interest in a home anywhere in the world;
• Not have a spouse who owned a home anywhere in the world;
• Not have received an Ontario Home Ownership Savings Plan based refund of the land transfer tax.

The refund is claimed at time of registration of the deed as an instant refund at the Land Registration Counter or if not then it must be claimed no later than 18 months from the date of registration of the deed.

I would be pleased to discuss this exciting extension to the Land Transfer Tax Refund Program with you further as an integral part of looking after your real estate transaction.

Please click here for a useful link to answer any further questions you may have or to review the most current requirements of the Program.

revised April 20, 2005

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