BMO Offers to Pay Land Transfer Tax
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In response to the public outcry regarding Miller’s new taxes, BMO is offering a promotion in which they will pay the city’s new land transfer tax for buyers. Of course certain restrictions apply including you must switch your primary bank account to BMO if it is not there already. However, if their interest rates are competitive with other banks, this could save buyers around $4000 on the average property in Toronto.
This is a smart move and I’m sure other banks will follow with copycat type promotions as the reality of the land transfer tax looms nearer.
For more information about this promotion please contact me.