First-time buyers of new and re-sale homes are eligible for rebates on provincial and Toronto land transfer taxes. The maximum that first-time home buyers can receive for provincial land transfer tax (LTT) is $2,000 and for the Toronto LTT its $3,725.

The provincial LTT is payable anywhere in Ontario, including Toronto. As mentioned before, the maximum that a first-time buyer can receive for the provincial LTT is $2,000. For re-sale homes, the provincial rebate only applies to first-time buyers who entered into Agreements of Purchase and Sale after December 13, 2007.

Toronto LTT is payable only for properties in the City of Toronto. The maximum a first-time home buyer can receive is $3,725. The Toronto LTT rebates are in addition to any provincial LTT rebate the buyer qualifies for.

The buyer is considered to be a first-time buyer for the provincial and Toronto LTT if they are at least 18 years of age and must not have previously owned a home anywhere in the world at anytime. If a spouse is involved, the spouse cannot have owned a home or had any ownership interest in a home while he/she was the purchaser's spouse. 

Land Transfer Calculator

Land Transfer Tax

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Provincial:        Provincial Land transfer tax (LTT), typically calculated as a percentage of the purchase price of a home, is required when purchasing a home in Canada. All provinces have a LTT, and the amount varies in each province. plus
Municipal:        Municipal Some municipalities, like Toronto, levy an additional LTT, which is similarly calculated as a percentage of the purchase price of a home. plus
Rebate:        Rebate If you are a first-time home buyer in British Columbia or Ontario, you will be eligible for LTT rebates, equal to the value of the LTT up to a maximum amount set by the province. minus