Land or Property Transfer Tax Refunds

If you purchase land or an interest in land, you may be entitled to a refund of a Provincial Land Transfer tax.

In Ontario, qualified first time home buyers may be entitled to a refund of a provincial Land Transfer Tax up to a maximum of $2,000 or a home priced up to $227,500. There is also a first time buyers refund for homes purchased in the City of Toronto.

In British Columbia, qualified first-time buyers may receive a refund of Property Transfer Tax on homes valued up to $425,000.

For registrations on, or after, February 20 2008, the fair market value threshold for eligible residential property is $425,000. A proportional exemption is provided for eligible residences with a fair market value of up to $25,000 above the threshold (i.e. up to $450,000).