Provincial Land Transfer Tax Rebate for First Time Buyers in Ontario
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The province just announced a new tax rebate for first time buyers in Ontario. Well, it is not exactly new, because the program previously existed for new homes and condos, but now the program will apply to resale homes and condos as well. The province will rebate up to $2000 for all first time buyers on the provincial land transfer tax portion of the purchase. Great news for first time buyers and another great reason to get into the market in Toronto if you are not already.