Land Transfer Tax (LTT) Rebate Program
First Time Home Buyers of New or Re-Sale Homes are eligible for a refund. The maximum provincial Land Transfer Tax (LTT) refund for First Time Home Buyers is $2000.
First-Time Buyer Eligibility
To be eligible as a first-time buyer for the provincial LTT rebate:
- The purchaser must be at least 18 years of age.
- The purchaser must occupy the home as his or her principal residence no later than nine months after the date of the conveyance or disposition.
- The purchaser cannot have previously owned a home, or had any ownershipinterest in a home, anywhere in the world, at any time.
- If the purchaser has a spouse, the spouse cannot have owned a home, or had any ownership interest in a home, anywhere in the world while he or she was the purchaser’s spouse. If this is the case, NO refund is available to either spouse. Note: If a purchaser’s spouse owned an interest in a home BEFORE becoming the purchaser’s spouse, but not while the purchaser’s spouse, the purchaser may be eligible for some rebate.
Land Transfer Tax Calculation for Residential Properties:
- 0.5% on the first $55,000 of the purchase price, plus
- 1.0% of the amount of the purchase price between $55,000 - $250,000, plus
- 1.5% of the amount of the purchase price between $250,000 - $400,000, plus
- 2.0% of the amount of the purchase price above $400,000