Land Transfer Tax rebate (Toronto): In the City of Toronto, if you are a first-time purchaser of a newly constructed or re-sale residential property, for conveyances and dispositions of an eligible home there is an available rebate of up to $4,475. When you buy land or an interest in land in Ontario, Land Transfer Tax is paid. First-time homebuyers of an eligible home may be entitled to a refund of all or part of the tax. The maximum amount of the refund is $4,000. Home Buyer’s Plan (HBP): This program allows a withdrawal of up to $25,000 tax-free from your registered retirement savings plans (RRSP) to put towards the purchase of your home. With this plan you are essentially lending yourself money from your RRSP. It […]