Robert McLister·General·October 25, 2007Toronto Land Transfer Tax Deadline It’s going to be a busy holiday vacation for Toronto real estate professionals. According to the city of Toronto: Purchasers with a Purchase and Sale agreement on or before December 31, 2007 will receive a full rebate of the Toronto Land Transfer tax regardless of the closing date. Purchasers with a Purchase and Sale agreement signed after December 31, 2007 with a closing before February 1, 2008 will not be required to pay the Toronto Land Transfer tax. Purchasers with a Purchase and Sale agreement signed after December 31, 2007 with a closing on or after February 1, 2008 will be required to pay the full Toronto Land Transfer tax. If you’re a first time home buyer, you won’t pay Toronto’s land transfer tax on the first $400,000 of house value. Above that, you’ll pay 2%. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.