PLEASE NOTE: Ontario Land Transfer Tax Calculator can be viewed in Microsoft Explorer ONLY
Information is provided for sample purposes only. Its accuracy is not guaranteed. Information
should be verified and should not be relied upon as legal, financial, or other advice.
Municipal Land Transfer Tax (Toronto) |
As a taxation measure granted under the City of Toronto Act, 2006, Toronto City Council approved a new Municipal Land Transfer Tax effective February 1, 2008 that will be applied to purchases on all properties in the city of Toronto in addition to the Province's Land Transfer Tax.
MLTT Rebate Opportunities
You may be eligible for a rebate of the MLTT if either of the following criteria is met:
A. Grand-Fathering
The Agreement of Purchase & Sale was executed on or before December 31, 2007 and the closing date is on or after February 1, 2008. In this case you will be eligible for a full rebate.
B. First-Time Purchaser
You are a first-time purchaser of a newly constructed or re-sale residential property. The rebate for first-time home purchasers is up to a maximum of $3,725.00.
If you are eligible for a rebate of all or a portion of the MLTT you owe, your lawyer will be able to claim the rebate electronically through Teraview software when he/she registers your transfer/deed.
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For more information visit the hyperlinks noted below |
| Click here for more information and the City of Toronto Website | Click Here for a copy of the City of Toronto By Law 1423 2007 |