Great News for 1st Time Homebuyers!

The Government of Ontario recently announced that 1st time home buyers who purchase a RESALE home after December 13th, 2007 will qualify of a rebate of up to $2,000.00 on the LAND TRANSFER TAX!

Although the rebate has not yet become law, the provincial government is on record they are commited to bringing this into the legislature early in 2008.

 Buyers will still have to pay the tax up front and then apply for their rebate. Very welcome news for all buyers who now finally have a benefit new construction buyers have had for a long time.

The effort is as a direct result of intense lobbying by REALTORS! 

For further information contact the Ontario Ministry of Finance.  Land Transfer Tax Section 905-433-6361