• Provincial LTT is payable anywhere in Ontario (including Toronto)
  
• Maximum provincial LTT first-time buyer rebate is $2,000 (equivalent to the provincial LTT payable on a $227,500 property).
  
• For RESALE homes, the provincial rebate applies only to first-time buyers who entered into Agreements of Purchase and Sale AFTER December 13, 2007.
  
• First-time buyers of NEWLY CONSTRUCTED HOMES are eligible for the provincial rebate even if they entered into Agreements of Purchase and Sale prior to December 13, 2007.
  
• The provincial LTT for residential properties is calculated as follows (An easy-to-use calculator is available at www.NoHomeBuyingTax.com):
  
  • 0.5% of the amount of the purchase price up to and including $55,000, plus
    
  • 1% of the amount of the purchase price between $55,000 and $250,000, plus
    
  • 1.5% of the amount of the purchase price between $250,000 and $400,000, plus
    
  • 2% of the amount of the purchase price above $400,000

Toronto LTT

• Toronto LTT is payable only for properties in the City of Toronto.
  
  Maximum Toronto LTT first-time buyer rebate is $3,725 (equivalent to the Toronto
  
• LTT payable on a $400,000 property).
  
  ANY purchaser who entered into an Agreement of Purchase and Sale prior to
  December 31, 2007 is eligible for a FULL rebate of the Toronto LTT.
  
• Toronto LTT rebates are in addition to any provincial LTT rebate that the buyer
  qualifies for.
  
• The Toronto LTT for residential properties is calculated as follows (An easy-to-use calculator is available at www.NoHomeBuyingTax.com):
  
  • 0.5% of the amount of the purchase price up to and including $55,000, plus
    
  • 1% of the amount of the purchase price between $55,000 and $400,000, plus
    
  • 2% of the amount of the purchase price above $400,000

• 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 ownership
  interest 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.