# land transfer tax (ontario)



## Siwash (Sep 1, 2013)

Hey folks, when purchasing a home,must the land tranfer tax in Ontario paid up front or can it be lumped in with the mortgage? Is there an option?


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## dougboswell (Oct 25, 2010)

Siwash said:


> Hey folks, when purchasing a home,must the land tranfer tax in Ontario paid up front or can it be lumped in with the mortgage? Is there an option?


The land transfer tax must be paid to the lawyer at the time of closing. It cannot be added to the mortgage. Also if buying in Toronto you pay twice - the Ontario land transfer plus the city of Toronto land transfer tax. Most mortgage lenders want to see proof that you have enough in savings to cover closing costs - to pay your legal fees plus these transfer taxes. Count on 1 to 1 1/2% of purchase price to cover closing costs.


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## Rubab20 (Sep 11, 2014)

If you purchase a house with someone who is not a first time buyer, but you are. Do you still receive the first time buyer land transfer tax refund..

Rubab | Realestate


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## marina628 (Dec 14, 2010)

The first time buyer will always get their credit but the other person will not so you buy home 50/50 with first time buyer then you pay your 50% and they are exempt.


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## kwikemarket06 (Nov 6, 2014)

Yes, if you buy home or land first time, you receive tax refund.


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