Land Transfer Tax Rebate
Eligibility and Conditions for the Land Transfer Tax Rebate
As a premier legal partner, TDJ Law is pleased to share with you an opportunity to save as a first-time homebuyer. You could be eligible for a Land Transfer Tax Rebate of up to $2,000. Key eligibility criteria include:
- Minimum age of 18 years.
- No previous ownership of an eligible home, anywhere globally.
- The purchased property must serve as your primary residence.
- Newly built homes must be eligible for the Tarion New Home Warranty.
- Spouse, if any, must not have previously owned an eligible home.
- Application for rebate must be within 18 months of the home purchase closing date if not claimed at the time of purchase.
For rebate purposes, a spouse can be a legally wedded partner or a person in a common-law relationship. In the absence of a spousal relationship, a first-time homebuyer can claim a proportional rebate based on their share in the property.
Process to Get the Land Transfer Tax Rebate
Your lawyer will manage the paperwork during your home purchase to qualify you for the rebate, which will reduce your closing costs.
In case the rebate was not applied at closing, you can apply for a refund by submitting necessary documents, including the Land Transfer Tax Rebate Affidavit, registered land transfer/deed, proof of tax payment, docket summary, agreement of purchase and sale, statement of adjustments, and proof of occupancy, directly to the Ministry of Finance.