Ontario Land Transfer Tax Exemption Do I also qualify for the exemption from ON land transfer tax? First-time homebuyers in Ontario are eligible for a land transfer tax exemption up to $4000. The Ontario land transfer tax exemption also covers the entire tax for properties valued up to $368,333. If the price of your home is higher than $368,333, you still receive the entire $4000 tax rebate. Consequently, you’re only taxed on the remaining balance. To meet Ontario’s first-time homebuyer requirements, you must: Reside in Canada as a citizen or permanent resident Meet the age requirement of 18 years or older Live in the property within 9 months of buying it Have never owned property before Finally, apply for the rebate within 18 months of buying the property A Free Platform Designed For You! Finance Minister Charles Sousa is offering first-time homebuyers a land transfer tax rebate. The rebate covers up to $4000 of land transfer tax on homes valued at $368,000. First-time buyers who are also permanent Ontario residents are eligible. Get the lowest rate, plus additional benefits like no origination or processing fees. Find the lender that best suits your needs, from local lenders to major banks.Instead of just shopping at one bank, compare over 30 different lenders to choose one that best suits your needs.Available on Apple iOS and Android. Simply download our mobile app to start.All information submitted is secure, encrypted, and only viewable to those you give permission to.Apply with the help of a team member or our digital assistant. We make it fast and easy to apply!