How to use the First Home Rebate

A recent mail out from OREA (the Ontario Real Estate Association), has outlined the new Ontario LTT Rebate, and how it benefits new home buyers:

“…First-time home buyers are now eligible to get $4,000 off the Canadian dream…

Effective January 1st, 2017, Ontario has doubled the land transfer tax rebate for first-time home buyers from $2,000 to $4,000. That means that a first-time home buyer will pay no provincial tax on homes sold for $368,000 or less…”

“Ontario REALTORS® lobbied hard for the improved rebate and we’re very proud to promote it to first-time buyers…”

“… As REALTORS®, we know home ownership is part of the Canadian Dream. It’s a source of financial security, drives economic activity and binds communities together. The benefits of home ownership are why OREA fights so hard to protect it and make it more affordable for young families.

So take a minute and visit www.FirstHomeRebate.ca.”

Ray Ferris, President
Ontario Real Estate Association

On the site, is a great informative video as well as a calculator to figure out how much tax relief you qualify for.

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