First time purchasers of residential properties (houses or condominiums) will receive an instant Land Transfer Tax credit up to a maximum of $2,000.00 for the Ontario Land Transfer Tax, and a maximum of $3,725.00 for the Toronto Land Transfer Tax.
Please note that anyone who has ever owned a home anywhere in the world is not eligible for this refund.
In the situation where a husband and wife are purchasing a new home and one of them has not owned a home before then, provided the other spouse did not own a home during the course of their marriage, then the spouse who has never owned is entitled to a proportionate (or half) refund.