This new tax- applicable ONLY to homes in Toronto goes into effect February 1, 2008. The new tax was voted into effect October 28. 2007 by Toronto City Council. A rebate of up to $3,725 will apply to first-time buyers of homes. This amount cover the land transfer tax on a house bought for 400,000 and under.
If you are confused or have a question about the new Toronto Land Transfer tax, I can help- give me a call at 905-891-8089 or email me using form below.
Posted by LJ- Guest Blogger in General Mississauga and Oakville Real Estate