When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time homebuyers of an eligible home may be eligible for a refund of all or part of the tax.
To claim a refund, you must be at least 18 years of age, you cannot have owned a home or an interest in a home anywhere in the world, and your spouse cannot have owned a home or interest in a home, anywhere in the world while he or she was your spouse.
First time purchasers may claim an immediate refund at time of registration to a maximum of $4,000. This means in most cases if you are purchasing in Chatham-Kent you will be exempt from paying the tax. No land transfer tax would be payable on the first $368,000 of the purchase price of your house. First time purchasers of homes greater than $368,000 would receive a maximum refund of $4,000 and pay land transfer tax on the portion of the purchase price greater than $368,000.
