Homebuyers from all provinces are subject to Land Transfer Tax(LTT). Homebuyers in Toronto, however, also incur an additional municipal tax. To help offset the cost, Ontario, and the City of Toronto offer land transfer tax rebates for First-Time Homebuyers.
Ontario land transfer tax rates were last updated in 2017. This change introduced a $2 million tax bracket, but left the marginal rates and cutoffs for the lowest four price brackets unchanged. A non-resident speculation tax of 25% was also added in Ontario.
