What is a Land Transfer Tax (LTT)
Monday Dec 13th, 2021
Land Transfer Tax (LTT)
LTT is an additional tax you will have to pay on top of the property when you purchase a home in Ontario. First-time homebuyers can be eligible to receive a full or partial refund if they meet specific criteria.
The amount is a formula set out by each region in Ontario and calculated based on your purchase prices and the region in which the home/property is located in.
For example, The City of Toronto is double in the tax amount charged versus York Region.
For more information, visit: https://www.fin.gov.on.ca/en/tax/ltt/index.html