Archive

Down & Company Professional Corporation published the following articles:

• We qualify for the first-time homebuyer’s land transfer tax rebate. When do we get the rebate?

  Land transfer tax has to be paid at the time of the transfer of ownership.  In most cases you will only have to pay the net amount of land transfer tax payable after taking account of the rebate.  In other words, the amount of land transfer tax you pay at closing is reduced by the… Read the Article
  • December 6th, 2019
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• I previously owned a home, but my spouse is a first-time homebuyer. Do we qualify for the first-time homebuyer’s land transfer tax rebate?

  It depends, please call us to discuss.  If you sold the house before you became spouses, your spouse may be able to claim the first-time homebuyer’s land transfer tax rebate.  If, however, you owned the home while you were spouses, your spouse will not be able to claim the first-time homebuyer’s land transfer tax rebate.
  • December 6th, 2019
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• I previously owned a home but sold it years ago. Do I qualify for the first-time homebuyer’s land transfer tax rebate?

  Please call us to discuss.  Unfortunately, in almost all cases the answer is “no, you do not qualify for the rebate”.  In order to qualify for the first-time homebuyer’s rebate, you must not have previously owned a residential property anywhere in the world.  Note that the land transfer tax rules for being a first-time homebuyer… Read the Article
  • December 6th, 2019
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