Ontario Land Transfer Tax Refund
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.
- 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.
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
- 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.
You may be eligible to receive the maximum Land Transfer Tax refund provided the agreement is entered into on or after December 14, 2007.
The refund can be claimed immediately on the closing of the purchase.