First-time buyers of new and re-sale homes are eligible for rebates on provincial and Toronto land transfer taxes. 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.
0.5% of the amount of the purchase price up to and including $55,000, plus o 1% of the amount of the purchase price between $55,000 and $400,000, plus o 2% of the amount of the purchase price above $400,000