In keeping with the government"s commitment to help Ontarians who are starting out, it is proposed that the Land Transfer Tax Refund Program for First-time Homebuyers be expanded to include purchases of resale homes. This measure would be effective for agreements of purchase and sale entered into after December 13, 2007. As a result of this change, first-time homebuyers of newly-constructed or resale homes would be able to receive a refund from the provincial government of up to $2,000 of the land transfer tax paid.

Pending the proposed amendments becoming law, land transfer tax must be paid at the time of registration. Following registration, a refund affidavit, which will be published shortly, may be submitted to the Ministry of Revenue.

Refund cheques would be issued upon the proposed amendments becoming law.

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