First time home buyers may be eligible for a refund of all or part of the land transfer tax. For agreements of Purchase and Sale entered into after December 13, 2007, the refund applies to all homes.
Applications for refund must be made within 18 monthes after date of land transfer. The maximum amount of the refund is $2000.00.
If the refund is claimed at time of registration, it may offset the land transfer tax ordinarily payable. If not claimed at registration, the refund may be claimed directly from the Ministry of Revenue. No interest is paid on this refund.
Who qualifies? You must be at least 18 years of age, must occupy the home as your principal residence within 9 monthes or after the date of transfer and cannot have owned a home, or an interest in a home, anywhere in the world. In addition, your spouse cannot have owned a home, or an interest in a home, anywhere in the world while being your spouse and in the case of a newly constructed home, you must be entitled to a Tarion New Home Warranty.
Further information www.reg.gov.on.ca