Skip to content
Canajun Finances Home » Ontario Government

Ontario Government

Land Transfer Tax Ontario reaction by ChatGPT

Ontario Land Transfer Tax: What First-Time Homebuyers Must Know

In Ontario, the Land Transfer Tax is a significant closing cost many homebuyers overlook until it’s too late. This article revisits the now-defunct Ontario Home Ownership Savings Plan and explains how it was replaced by the current Land Transfer Tax Refund for First-Time Homebuyers. While written in 2014, this guide remains valuable for understanding how Ontario’s land transfer tax system works, what first-time buyers can still claim, and the shocking fees second-time buyers face. It also highlights little-known quirks about how land transfer taxes are calculated — including surprising charges even when no money is exchanged.

Verified by MonsterInsights