What are the requirements to qualify for the refund of land transfer tax for first-time homebuyers?
The requirements are as follows: • The purchaser cannot have previously owned a home, or had any ownership interest in a home, anywhere in the world, at any time. • If the purchaser has a spouse, the spouse cannot have owned a home, or had any ownership interest in a home, anywhere in the world, while he or she was the purchaser’s spouse. If this is the case, no refund is available to either spouse. • The purchaser must be at least 18 years of age. • The application for a refund must be made within 18 months after the date on which the conveyance or disposition occurred. (Note that an application for the refund can be completed upon the electronic registration of the conveyance). • The purchaser must occupy the home as his or her principal residence no later than nine months after the date of the conveyance or disposition. • The purchaser cannot have previously received an Ontario Home Ownership Savings Plan (OHOSP) based refund of land transfer tax. • If the agreement of purchase and
Related Questions
- Do I qualify for the Land Transfer Tax Refund for First-time Homebuyers if I signed my agreement of purchase and sale for my resale home on December 1, 2007?
- How do I apply for the refund of land transfer tax for first-time homebuyers?
- Are there any time limits to apply for a refund of land transfer tax?
