Search results for “land transfer tax”
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Land Transfer Tax Rebates (Provincial and Toronto)
<< Home Buyers Program First-time buyers of new and re-sale homes are eligible to receive rebates of the provincial and Toronto land transfer taxes. The maximum provincial land transfer tax (LTT) rebate for first-time buyers is $4,000 and the maximum Toronto LTT rebate for first time buyers is $4,475. A FULL rebate of the Toronto…
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Statement from TRREB on Toronto City Council’s Approval of an Increase to the Land Transfer Tax
Toronto residents want an affordable city. They want a city where families and individuals can put down roots, seniors can downsize with dignity, and young people can realistically aspire to homeownership. City Council’s decision to approve another increase to Toronto’s Municipal Land Transfer Tax (MLTT) moves the City further away from those goals. The Toronto…
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Request for Provincial Intervention to Prevent Further Municipal Land Transfer Tax Increases
TRREB has sent a letter to Premier Ford to request the province’s intervention in the proposed Municipal Land Transfer Tax (MLTT) increase in Toronto on homes above $3 million. Read the letter here.
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Toronto Residents Say City’s Reliance on Land Transfer Tax Is Fueling the Housing Affordability Crisis
New polling shows growing frustration as Council considers yet another MLTT hike. As Toronto City Council considers a proposal to increase the Municipal Land Transfer Tax (MLTT) on higher-value homes, new Ipsos polling conducted for the Toronto Regional Real Estate Board (TRREB) shows that 416 residents are deeply concerned about housing affordability and believe the…
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TRREB Statement on Proposed Increase to Toronto’s Land Transfer Tax on Higher Value Homes
Municipal land transfer taxes (MLTTs) hurt the Canadian dream of home ownership by taking thousands of dollars out of home buyers’ pockets. With average home prices in the City of Toronto exceeding $1 million, the Toronto MLTT adds over $17,000 to the upfront closing cost of buying a home. Together, home buyers pay both a…
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Municipal Candidates Must Choose, Higher Taxes or More Homeownership
Over the past few years, governments have taken important steps to improve housing affordability. Ontario and the federal government have worked together to significantly reduce development charges and lower the harmonized sales tax (HST) on new homes. The governments took these steps largely because high housing taxes make homes less affordable and discourage new construction.…
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First-Time Home Buyers’ Tax Credit
<< Home Buyers Program First-time homebuyers may be eligible for a 15 per cent income tax credit for closing costs. Details For more information, contact Service Canada at 1-800-622-6232
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TRREB Launches Fair Taxes on Ontario Homes Campaign to Tackle Rising Housing Costs
Newly Released Ipsos Polling Shows 72% of Young Ontarians Plan to Leave GTA Due to Affordability In response to the ongoing housing affordability crisis, the Toronto Regional Real Estate Board (TRREB) is launching a bold new campaign— Fair Taxes on Ontario Homes —to demand lower taxes and help bring homeownership back within reach for Ontarians. The campaign…
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TRREB Encourages All Policymakers to Consider Lower Taxes for Home Buyers and Sellers
Families and individuals living in the Greater Toronto Area (GTA) pay some of the highest taxes on the purchase of a home in North America. In Toronto, buyers can expect a double land transfer tax, development charges and sales taxes, totalling over $200,000 in taxes and fees on the average priced home. Cutting taxes for…
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The Impact of Taxation
TRREB Members ensure that clients like you get the home or business you want thanks to TRREB calling on policymakers to boost housing supply, address affordability, and create healthy economic conditions. Ontario has some of the highest housing taxes in North America.
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LTT Calculator – Residential
Calculate your municipal (Toronto) and provincial (Ontario) Land Transfer taxes.
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TRREB Municipal Election Watch: Housing, Affordability and Growth Take Centre Stage: Toronto, Peel, York, Durham, Halton & Barrie
With Ontario’s municipal election on Monday, October 26, voters across the GTA and Simcoe are hearing increasingly detailed debates about housing affordability, property taxes, infrastructure, development charges, and how communities should accommodate growth. For REALTORS® and their clients, the next generation of mayors and councillors will directly influence where municipalities build homes, how quickly they…