/information makes the difference/

• Provincial LTT is payable anywhere in Ontario (including Toronto)
   
• Maximum provincial LTT first-time buyer rebate is $2,000 (equivalent to the provincial LTT payable on a $227,500 property).
   
• For RESALE homes, the provincial rebate applies only to first-time buyers who entered into Agreements of Purchase and Sale AFTER December 13, 2007.
   
• First-time buyers of NEWLY CONSTRUCTED HOMES are eligible for the provincial rebate even if they entered into Agreements of Purchase and Sale prior to December 13, 2007.
   
• The provincial LTT for residential properties is calculated as follows (An easy-to-use calculator is available at www.NoHomeBuyingTax.com):
   
  • 0.5% of the amount of the purchase price up to and including $55,000, plus
     
  • 1% of the amount of the purchase price between $55,000 and $250,000, plus
     
  • 1.5% of the amount of the purchase price between $250,000 and $400,000, plus
     
  • 2% of the amount of the purchase price above $400,000

Toronto LTT

• Toronto LTT is payable only for properties in the City of Toronto.
   
  Maximum Toronto LTT first-time buyer rebate is $3,725 (equivalent to the Toronto
   
• LTT payable on a $400,000 property).
   
  ANY purchaser who entered into an Agreement of Purchase and Sale prior to
  December 31, 2007 is eligible for a FULL rebate of the Toronto LTT.
   
• Toronto LTT rebates are in addition to any provincial LTT rebate that the buyer
  qualifies for.
   
• The Toronto LTT for residential properties is calculated as follows (An easy-to-use calculator is available at www.NoHomeBuyingTax.com):
   
  • 0.5% of the amount of the purchase price up to and including $55,000, plus
     
  • 1% of the amount of the purchase price between $55,000 and $400,000, plus
     
  • 2% of the amount of the purchase price above $400,000

• The purchaser must be at least 18 years of age.
   
• The purchaser must occupy the home as his or her principal residence no later than nine months after 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, at any time.
   
• If the purchaser has a spouse, the spouse 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. If this is the case, NO refund is available to either spouse. Note: If a purchaser’s spouse owned an interest in a home BEFORE becoming the purchaser’s spouse, but not while the purchaser’s spouse, the purchaser may be eligible for some rebate.

Selling houses is my goal!

Putting people and homes together is my passion!

Michael Kagan
- Sales Representative -

michael.kagan@live.ca

- Independently owned and operated -

Not intended to solicit properties currently listed for sale
or individuals currently under contract with a brokerage.

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