519-579-1220



COVID-19 UPDATE
(as of April 4, 2020)

Kay Law’s chief concern is the well-being of its clients and staff members. As such, we are fully supporting public health recommendations to reduce the spread of COVID-19.

As of March 17, 2020, we implemented a “physical distancing” policy and we adopted phone conference calls and video meetings until this unprecedented threat to pubic health subsides. These policies and procedures will continue in effect until further notice.

If you are attempting to deliver or pick-up any item from our office, please see the instruction sheet posted on our outside door or please phone us at 519-579-1220 and we will instruct you.

As an “essential service” provider, we are fully committed to providing legal services to our clients during this public health crisis. We are here to help you and your business. Please phone or email us. (519-579-1220 or reception@kaylaw.ca)

We appreciate your patience and understanding as we work within policies and procedures that help reduce the spread of COVID-19. Our thoughts and prayers are with all of you and we wish you safety and health.

Thank you.

Yours very truly,
Kay Law Professional Corporation

Tuesday, December 10, 2019

Kay Law Blog 4 - First Time Homebuyers & Land Transfer Tax

First Time Homebuyers & Land Transfer Tax


Land transfer tax is payable on the purchase of property in Ontario. For residential properties, it is
calculated based on the purchase price at the following rates:

  • amounts up to and including $55,000: 0.5%
  • amounts exceeding $55,000, up to and including $250,000: 1.0%
  • amounts exceeding $250,000, up to and including $400,000: 1.5%
  • amounts exceeding $400,000: 2.0%
  • amounts exceeding $2,000,000, where the land contains one or two single family residences: 2.5%.

In order to qualify for the first time homebuyer land transfer tax refund, a purchaser must satisfy the
following conditions:

  1. The purchaser cannot have previously owned a home, or an interest in a home, anywhere in the
  2. world;
  3. The purchaser’s spouse cannot have owned a home, or an interest in a home, anywhere in the
  4. world while the purchaser has been married to him or her;
  5. The purchaser must occupy the home as his or her principal residence within nine months of the
  6. date of the transfer; and
  7. The purchaser must be a Canadian citizen or permanent resident.

For transactions completed after January 1, 2017, the maximum land transfer tax refund is $4,000. If the
purchase price is high enough that the total land transfer tax exceeds the refund entitlement, the
purchaser will be responsible for paying the balance of the tax at closing.

Example: A first time homebuyer is purchasing a detached single family dwelling for $550,000.


  • Land transfer tax on $550,000 = $7,475
  • Land transfer tax less first time homebuyer refund = $7,475 – $4,000 = $3,475
  • The purchaser will have to pay the balance of $3,475 at closing

The refund to which a first time homebuyer is entitled will be reduced if the purchaser takes title with
another person who is not a first time homebuyer. The amount of the refund to which the first time
homebuyer will be entitled will depend on his or her interest in the property.

Example: A first time homebuyer is taking title with his parent for the purchase of a $550,000 detached
single family dwelling.


  • Child and parent each take ownership as to a 50% share
  • Child (first time homebuyer) is entitled to 50% of the $4,000 total refund entitlement
  • 50% of $4,000 = $2,000
  • Land transfer tax on $550,000 = $7,475
  • Land transfer tax less first time homebuyer refund = $7,475 – $2,000 = $5,475
  • The purchaser will have to pay the balance of $5,475 at closing


Note: For properties purchased in the City of Toronto, there is also municipal land transfer tax payable
at closing in addition to the Ontario tax. A similar refund is available to first time homebuyers with
respect to the municipal land transfer tax.

Law With A Difference


57 comments:

  1. When your website or blog goes live for the first time, it is exciting. That is until you realize no one but you and your. marriage certificate attestation in Nigeria

    ReplyDelete
    Replies
    1. By using this website https://www.rent-b.com/ you can easily find the perfect living home for you and your family by buying or can be on rent, you can see here the variety of options and you can choose the best option for you to buy or rent a perfect house for your family in a good budget.

      Delete
    2. You guys present there are performing an excellent job.erp software dubai

      Delete
  2. I know your expertise on this. I must say we should have an online discussion on this. Writing only comments will close the discussion straight away! And will restrict the benefits from this information. columbus bail bonds

    ReplyDelete
  3. I do trust all of the concepts you’ve presented for your post. They are really convincing and can certainly work. Nonetheless, the posts are too brief for newbies. May just you please lengthen them a little from next time? Thanks for the post. ui/ux designer

    ReplyDelete
  4. Pete Evering Said:
    This is really a good reading for the first time buyer. He/she can take some suggestion from this post. As a first time buyer, I will try to follow this words. Thanks and carry on!

    ReplyDelete
  5. I would like to thank you for the efforts you have put in writing this Magic Mesh Door Coverblog. I’m hoping the same high-grade blog post from you in the future also. Actually your creative writing abilities has inspired me to get my own screen door instant website going now. Actually blogging is spreading its wings and growing fast. Your write up is a great example. brand identity design

    ReplyDelete
  6. Great post I would like to thank you for the efforts you have made in writing this interesting and knowledgeable article. homes for sale on Lake LBJ

    ReplyDelete
  7. I adore your wp web template, wherever would you obtain it through? ipad sketch

    ReplyDelete
  8. This information is meaningful and magnificent which you have shared here wrong about buying a house.
    Reference: luxuryarizonarealtors.com

    ReplyDelete
  9. Wow! This could be one particular of the most useful blogs We have ever arrive across on this subject. Actually Magnificent. I am also a specialist in this topic so I can understand your effort. macbook mockups

    ReplyDelete
  10. Yeah bookmaking this wasn’t a bad decision great post! . android psd

    ReplyDelete
  11. Good post. I be taught one thing more challenging on completely different blogs everyday. It is going to always be stimulating to read content material from other writers and apply a little something from their store. I’d want to use some with the content on my blog whether or not you don’t mind. Natually I’ll offer you a link in your web blog. Thanks for sharing. webflow company

    ReplyDelete
  12. There are a handful of fascinating points in time here but I do not know if every one of them center to heart. There may be some validity but I am going to take hold opinion until I take a look at it further. Great article , thanks so we want far more! Added to FeedBurner too BGC condo for sale

    ReplyDelete
  13. I will invite all my friends to your blog, you really got a great blog.`~`-, Flow Meter

    ReplyDelete
  14. Actually I read it yesterday but I had some thoughts about it and today I wanted to read it again because it is very well written. buy paint booth

    ReplyDelete
  15. An interesting dialogue is price comment. I feel that it is best to write more on this matter, it may not be a taboo topic however usually individuals are not enough to talk on such topics. To the next. Cheers. xo so mien bac

    ReplyDelete
  16. Thanks for sharing this information. I really like your blog post very much. You have really shared a informative and interesting blog post with people.
    sell my house fast euless

    ReplyDelete
  17. I know your mastery on this. I should state we ought to have an online conversation on this. Composing just remarks will close the conversation straight away! Also, will confine the advantages from this data. Try POS Premier service which provide the every possible solution for your business related to POS.

    ReplyDelete
  18. Build an app by iPhone app developers for your online business and take your business to next level.

    ReplyDelete
  19. Whether you want to modify your existing logo or starting from scratch, we will research, imagine, and create a logo that will be aesthetically pleasing and memorable. Business Logo Designing

    ReplyDelete
  20. Buying a home can be challenging for a first-timer. Thanks for advice! Call us (HOMEiA) at 6518889659 for the best real estate agents.

    ReplyDelete
  21. buy Wikipedia page now and tell everything about your product to your global audience

    ReplyDelete
  22. A debt of gratitude is in order for imparting this intriguing web journal to us.My delight to being here on your blog..I wanna come beck here for new post from your website. Prestamistas

    ReplyDelete
  23. You can certainly see your expertise within the paintings you write. The world hopes for even more passionate writers such as you who aren’t afraid to say how they believe. All the time follow your heart. Divorce procedure in pakistan

    ReplyDelete
  24. Hey! Someone in my Myspace group shared this website with us so I came to look it over. I’m definitely loving the information. I’m book-marking and will be tweeting this to my followers! Wonderful blog and outstanding design and style. Water Meter Amico

    ReplyDelete
  25. Your article has proven useful to me. It’s very informative and you are obviously very knowledgeable in this area. You have opened my eyes to varying views on this topic with interesting and solid content. https://cashnowformyhome.com/

    ReplyDelete
  26. Your blog site is so interesting … keep up the good work! Also, is your wordpress theme a free one? and if so..can i have it? My best wishes, Joanne. brazilianbuttlift

    ReplyDelete
  27. This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value of providing a quality resource for free. Edward Renwick

    ReplyDelete
  28. I have bookmarked your website because this site contains valuable information in it. I am really happy with articles quality and presentation. Thanks a lot for keeping great stuff. I am very much thankful for this site.
    real estate investment trusts reits

    ReplyDelete
  29. This web-site is actually a walk-through you discover the knowledge you wished in regards to this and didn’t know who need to. Glimpse here, and you’ll certainly discover it. One North Eden

    ReplyDelete
  30. Within the present day culture look at Language is now a whole lot even more necessary and in addition well-known. Yet once i has long been younger, My spouse and i failed to comprehend with this as well as determine to like exterior instead of realize Language. Nevertheless my private mommy stated: “English can be the essential tools for being capable to consult with foreign most people, and which means it’s essential to analyze within a Language school. Bernam Street GLS

    ReplyDelete
  31. After city whatever of your blogposts I staleness say i constitute this fact one to mostly be top snick. I hump a weblog also and want to repost a few shear of your articles on my own journal tract. Should it be alright if I use this as longish I own write your web journal or make a inward unite to your article I procured the snippet from? If not I see and could not do it without having your acceptance . I hit assemblage marked this article to sound and zynga chronicle willful for testimonial. Anyway appreciate it either way! https://www.strawhomes.com/mls/west-vancouver-homes/

    ReplyDelete
  32. Patients who are realistic about what they can expect from liposuction often get a boost of self-confidence along with an improved appearance, which is always my goal. visit this website

    ReplyDelete
  33. Nice post. I discover something more challenging on diverse blogs everyday. It will always be stimulating to read content from other writers and employ a little from their site. I’d choose to use some together with the content in this little blog regardless of whether you do not mind. Natually I’ll provide a link on the internet weblog. Appreciate your sharing. Forex signals live

    ReplyDelete
  34. It’s my first time to visit this site & I’m really surprised to see such impressive stuff out there.
    check this link right here now

    ReplyDelete
  35. Once you decide on the type of business, it's time to work! Put your best foot forward when starting a home business.Nilaqua

    ReplyDelete
  36. Really nice and interesting post. I was looking for this kind of information and enjoyed reading this one. Keep posting. Thanks for sharing. More

    ReplyDelete
  37. Nice information, valuable and excellent design, as share good stuff with good ideas and concepts, lots of great information and inspiration, both of which I need, thanks to offer such a helpful information here. Click here

    ReplyDelete
  38. You completely match our expectation and the variety of our information. djsoftworld

    ReplyDelete
  39. It characterizes both your plan of action and your systems to make this plan of action work and all the more critically gainful.
    Yelp Business Directory Data Scraper

    ReplyDelete
  40. I cannot wait to dig deep and kickoff utilising assets that I standard from you. Your exuberance is clean. https://www.blaze.me/dispensary-pos-software/

    ReplyDelete
  41. I felt exceptionally cheerful while perusing this site. This was truly extremely instructive site for me. I truly enjoyed it. This was truly a sincere post. Much obliged!. best essay writing service

    ReplyDelete
  42. There is such a great amount in this article I would never have considered all alone. Your substance gives perusers things to consider in a fascinating way. Much obliged to you for your reasonable data. essay writing services

    ReplyDelete
  43. The proprietor of the business ought not be in dynamic chapter 11 at the hour of the advance application. CBT Bulk Email Sender Software

    ReplyDelete
  44. More and more small businesses today are using online business directories to their benefit. If you run a small business, you likely spend a great deal of your time thinking about your marketing plan. online business directories can be a great addition to your current small business marketing strategy. online business directories can help your small business expand its website traffic, increase the likelihood that your website will be found by interested visitors and increase your bottom line. If you haven't taken a look at online business directories and considered how your small business could use them to increase its market presence, then now is the time to start! queens business directory

    ReplyDelete
  45. Just pure brilliance from you here. I have never expected something less than this from you and you have not disappointed me at all. I suppose you will keep the quality work going on. custom challenge coins

    ReplyDelete
  46. I think this is one of the most significant information for me. And i’m glad reading your article. But should remark on some general things, The web site style is perfect, the articles is really great : D. Good job, cheers edward r renwick

    ReplyDelete
  47. I was pinning away for such type of blogs, thanks for posting this for us.
    what is the best fitness tactics for woman

    ReplyDelete
  48. Cool stuff you have and you keep overhaul every one of us. broker data entry

    ReplyDelete
  49. its simple to begin as a locally established travel planner and the online travel services can give you your own customized white name marked site, i timeshare cancellation

    ReplyDelete
  50. Love to read it,Waiting For More new Update and I Already Read your Recent Post its Great Thanks. blue world city islamabad

    ReplyDelete
  51. So the legitimate decision for these individuals is to purchase a house instead of proceeding to lease. https://yes-mallorca-property.com/offers/rent/

    ReplyDelete
  52. Liposuction is the procedure everyone is talking about. With unparalleled safety and minimal discomfort, Liposuction & Brazilian Butt Lift are the most popular cosmetic surgeries in our modern era. visit this website
    There is noticeably a bundle comprehend this. I assume you’ve made certain nice points in functions also. click here

    ReplyDelete
  53. Excellent Blog! I would like to thank for the efforts you have made in writing this post. I am hoping the same best work from you in the future as well. I wanted to thank you for this websites! Thanks for sharing. Great websites! Techesign.com

    ReplyDelete