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Dec 19, 2016
Real Estate Law Bulletin - New Year, New Land Transfer Tax Rates!
Effective January 1, 2017, the land transfer tax (LTT) rates in Ontario will be amended. A new LTT rate will be applied on the portion of the amount of consideration for a purchase transaction which exceeds $400,000. In such regard, the LTT rate will increase from the current rate of 1.5% to 2.0%.