First-time buyers of newly constructed homes and resale homes may receive a refund of land transfer tax up to a maximum of $2,000.

Only individuals who are at least 18 years of age, have not owned an interest in a home anywhere in the world and whose spouse has not owned an interest in a home anywhere in the world while he or she was a spouse of the individual, qualify as first time buyers.

The purchaser must occupy the home as his or her principal residence no later than nine months after the date the property is transferred to his or her possession.

In general, if you buy land or an interest in land in Ontario, you must pay Ontario's land transfer tax, whether or not the transfer is registered at one of Ontario's land registry office.

Land includes any buildings, buildings to be constructed, and fixtures (such as light fixtures, built-in appliances and cabinetry).

Land transfer tax is normally based on the amount paid for the land, in addition to the amount remaining on any mortgage or debt assumed as part of the arrangement to buy the land.

For more information, click the following link or cut and paste into your browser

http://www.rev.gov.on.ca/en/tax/ltt/index.html

To calculate Land Transfer Tax, click on the following link or cut and paste into your browser

http://www.kwhouseandhomes.ca/4a_calculator.php?ltt&province=Ontario