Ontario has a first time homebuyers refund that you may be eligible for. Eligibility depends on the following:
- The purchaser must be at least 18 years old.
- The purchaser must occupy the home as their principal residence within nine months of the date of transfer.
- The purchaser cannot have ever owned an eligible home, or an interest in an eligible home, anywhere in the world, at any time.
- If the purchaser has a spouse, the spouse cannot have owned an eligible home, or had any ownership interest in an eligible home, anywhere in the world, while he or she was the purchaser’s spouse. If this is the case, no refund is available to either spouse.
- The purchaser must be a Canadian permanent resident or citizen
https://www.fin.gov.on.ca/en/bulletins/ltt/1_2008.html
As each transaction encompasses unique complexities, your individual circumstances must be evaluated to determine whether this incentive would apply.
