What is a first-time home purchaser rebate?
A rebate to a maximum of $3,725.00, will apply to first-time purchasers of both new and existing residential properties. This means that first-time purchasers of residential properties with a consideration value of $400,000.00 or less will receive a maximum rebate of $3,725.00. A first-time purchaser of a residential property with a consideration value of $600,000.00 would pay a land transfer tax of $7,725.00 (see MLTT Rates) and receive a rebate of $3,725.00. A first-time purchaser of a residential property with a consideration value of $300,000.00 would receive a rebate of $2,725.00.
