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 amount of the rebate so that you receive the value of the rebate at closing and do not have to wait for the funds to be returned to you.
- December 6th, 2019
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