by Kunal Sawhney | Nov 29, 2021 | Columnists
There is a reason why taxes are not popular – they make things costlier for the buyer. But no nation can run without taxes. They are the bedrock of any economy – the government that levies them undertakes infrastructure development, maintenance of law and so on. Now...
by REM Editorial Team | Sep 22, 2020 | Featured, News
A new policy report from the Ontario Real Estate Association (OREA) recommends that the government focus on implementing growth-friendly policies to stimulate recovery, including a Land Transfer Tax holiday and a new renovation tax credit. “The aftermath of the...
by Bob Aaron | Sep 9, 2019 | Letters to the Editor
In the September issue of REM, Bill Johnston wrote that until April 1974, Ontario didn’t have a land transfer tax. The fact is that Ontario’s first Land Transfer Tax was introduced in 1921 and received Royal Assent on May 3 in that year. The rate was one-fifth of one...
by Bill Johnston | Jul 15, 2019 | Columnists, Featured
Until April 1974, Ontario didn’t have a land transfer tax. Then our (Conservative) government of the day gently introduced LTT to property buyers. April 10, 1974: 0.3 per cent up to $35,000 and 0.6 per cent on the balance Average house price was $52,806 Average LTT...
by REM Editorial Team | May 2, 2019 | Boards & Associations
The Toronto Real Estate Board (TREB) is raising concerns about a new proposal calling for the City of Toronto to increase its Municipal Land Transfer Tax on the most expensive properties. “City Council just finished a budget process which showed that revenue from the...
