New Land Transfer Tax rebate for first-time buyers
First-time buyers in Ontario will benefit from the
newly-extended land transfer tax rebate announced
Buyers can now claim back up to $4,000 which for
cities with an average price of $368,000 or less will
mean they pay no LTT at all. The previous rebate was
“This tax break will go a long way towards making
home ownership more affordable for first-time buyers
in Peterborough and the county, where the average
price of a home is $319,800,” said Dianne Tully
president of the Peterborough and the Kawarthas
Association of Realtors.
Ontario Real Estate Association has launched a
website (firsthomerebate.ca) to enable buyers to
calculate their rebate. OREA’s CEO Tim Hudak
praised the provincial government’s positive steps on
“The new LTT rebate will put more money in the
pockets of first-time home buyers and help young
families achieve their dreams of home ownership.
These savings benefit both the buyer and our local
economies,” Hudak said.
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