Article courtesy of Genworth Canada. Land transfer tax. When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates… Continue reading 10 Closing Costs When Buying a Home
Tag: Land Transfer Tax
How to pay less tax
If you are a first-time buyer of real estate in Ontario, you are in luck: the Ontario government has many programs in place to encourage you to buy instead of rent. Today, I am going to blog about the Land Transfer Tax rebate. Land Transfer Tax is imposed by the provincial government on all purchases… Continue reading How to pay less tax