Ontario Land Transfer Tax Refund

If you are a first-time purchaser purchasing from a builder:

The Ontario Land Transfer Tax Act provides for a refund of Land Transfer Tax to eligible first time purchasers of new homes. There is no longer a need to renew the programs annually.

Eligibility for First-time Home Buyers of New Homes:
  • You must a first time home purchaser of a new residential home or condominium.
  • The unit must be registered with the Ontario New Home Warranty Program (ONHWP).
  • The property must be used as your principal residence.
  • You or your spouse must be 18 years of age or older. (‘Spouse’ includes a common-law partner of three years or more where the spouses have a natural or adopted child.)
  • You or your spouse should not have owned property anywhere in the world. Exception to this rule applies, if one spouse not a fist-time purchaser. In this case, the other spouse can claim the entire refund even if they hold a joint title of ownership.
  • In a non-spousal relation if only one person is a first-time buyer and holds a fifty percent interest in the property then that person is eligible to claim a fifty percent of the Ontario Land Transfer Tax refund.
What is the Maximum Refund that you can claim?

If your agreement was signed:

  • on or before March 31, 1999, maximum refund is $1,725.00
  • on or after April 1, 1999, maximum refund is $2,000.00
When can I claim the refund?
  • The refund can be claimed immediately on the closing of the purchase.
  • If an immediate claim is not made at the closing, a claim for refund may be sent to the Ministry of Finance within eighteen months of closing.
If you are a First-time Home Buyer of a Resale Home:

You may be eligible to receive the maximum Land Transfer Tax refund provided the agreement is entered into on or after December 14, 2007.

When can I claim the refund?

The refund can be claimed immediately on the closing of the purchase.

TOP