First-Time Purchaser – Toronto

You are a first-time purchaser of a newly constructed or re-sale residential property, it the following criteria is met.
The definition of a first-time purchaser is:
The purchaser is at least 18 years of age.
The purchaser must occupy the home as his/her principal residence no later than nine months after the date of the conveyance or disposition.
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, nor had any ownership interest in a home, anywhere in the world while he/she was the purchaser’s spouse. If this is not the case, no rebate is available to either spouse.
The rebate for first-time home purchasers is up to a maximum of $3,725.00. If you are eligible for a rebate of all or a portion of the MLTT you owe, your lawyer will be able to claim the rebate electronically through Teraview software when he/she registers your transfer/deed
For more information, please visit:
http://www1.toronto.ca/wps/portal/contentonly?vgnextoid=b271a58e82cc1410VgnVCM10000071d60f89RCRD&vgnextchannel=4f90ff0e43db1410VgnVCM10000071d60f89RCRD

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