As of January 1, first time home buyers are eligible for up to $4,000 in tax relief through the new Ontario land transfer tax rebate.
The new rebate means that first time home buyers don’t have to pay tax on the first $368,000 of the purchase price of their home.
This tax break will reduce a first-time buyer’s closing costs and help them save more for their down payment.
To find out more information about how to apply for the rebate, contact us by clicking here.
