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Land transfer TAX? Interest you owned? 50%? I don't understand?!

本文发表在 rolia.net 枫下论坛HOW MUCH IS THE REFUND?
The amount of the refund will be the entire amount of tax paid or payable, up to a maximum of $1,725. If you own less than 100% interest in the newly-built home, the amount will be reduced and calculated according to the amount of interest in the home. For example: If you own 100% of your new home and you paid $250,000, the amount of Land Transfer Tax payable is $2,225. You will receive a refund of $1,725. If however, you owned 50% interest in your home, the amount is 50% of $1,725, or $862.50.

HOW DO I GET THE REFUND?
You can receive a same-day refund of the Land Transfer Tax by filing an affidavit for refund at the Land Registry Office at the time of registration. If you do not apply for a refund at the time of registration or if you sign an agreement of purchase and sale on or after April 1, 1998, closing the deal before the legislation extending the refund period is passed, you must contact the Ministry of Finance to obtain a refund after the legislation has been passed.


You can call the Ministry's toll-free information line at:

All areas of Ontario 1-800-263-7965
French language enquiries 1-800-668-5821
Teletypewriter (TTY) 1-800-263-7776更多精彩文章及讨论,请光临枫下论坛 rolia.net
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