land transfer tax act

O. Reg. (i) one-half of 1 per cent of the value of the consideration for the conveyance up to and including $55,000. 2004, c. 31, Sched. (2.1) A person in receipt of a demand under subsection (2) shall comply with the demand within the time specified in the demand. 2011, c. 9, Sched. If your property is located in an unorganized territory (an area without municipal organization) of Ontario, property tax is collected through the provincial land tax program administered by the Provincial Land Tax Office in Thunder Bay. 1997, c. 19, s. 12 (3). (c) a security interest in the personal property for the purposes of sections 15 and 16 of the Repair and Storage Liens Act, if it is an article as defined in that Act. 21, s. 8. 1997, c. 10, s. 18. R.S.O. (2.4) Despite subsection (1), no person shall institute an appeal under this section to have an assessment or statement vacated or varied in respect of an issue for which the right of objection or appeal has been waived in writing by or on behalf of the person. R.S.O. 13, s. 4. (b) a person other than an institution will loan or advance money to or make a payment on behalf of a person who is liable to make a payment under this Act and who the Minister knows or suspects, (i) is employed by or engaged in providing services or property to that person or who was or will within 365 days be so employed or engaged, or. 13, s. 1. (5) For the purposes of this section, interest on all penalties imposed by this Act shall be calculated from the date the default to which they apply first occurred. 13, s. 1 (1). 21, s. 24. (14) For the purposes of this section, a corporation is an affiliate of another corporation if one of them is the subsidiary of the other, if both are subsidiaries of the same corporation or if each of them is controlled by the same person or persons. 1990, c. L.6, s. 3 (9); 1996, c. 18, s. 9 (3); 2004, c. 31, Sched. 2014, c. 7, Sched. (c) there has been a disposition of the beneficial interest in the land, or a conveyance of the land, by the corporation, or by an affiliate of the corporation, to a person who is not an affiliate of the corporation and tax has been paid under this Act in respect of that disposition or on registration of the conveyance, as applicable. 16, s. 1. The Minister shall do so as soon as practicable after the Minister acknowledges the cancellation of the tax. 13, s. 8 (1, 2). 1990, c. L.6, s. 15 (6); 2004, c. 31, Sched. 1990, c. L.6, s. 10 (1); 2004, c. 31, Sched. R.S.O. 13, s. 1 (1). R.S.O. (b) with respect to an appeal, before the expiry of the time allowed under subsection (1) for instituting the appeal. (2) The receipt of the Minister for money paid as required under this section is a good and sufficient discharge of the original liability to the extent of the payment. 30, par. 21, s. 18 (2). 1990, c. L.6, s. 3 (13). 1, s. 3. 2004. c. 31, Sched. 2001, c. 23, s. 144; 2005, c. 5, s. 36 (5). 37/1998 is an Act to provide for the imposition of tax on the transfer of property. 1999, c. 9, s. 133. K, s. 1. (13) Repealed:  2004, c. 31, Sched. 21, s. 8. [30th March, 1984 1. 13, s. 3 (2). 1, s. 3. 16, s. 1. 2017, c. 17, Sched. Failure to comply with conditions of designation. 1997, c. 43, Sched. 21, s. 17 (2). (1.1) For the purposes of this section, an eligible home is. “taxable trustee”, in relation to a conveyance of designated land, means a trustee of a trust with at least one trustee that is a foreign entity, or a trust with no foreign entity trustees if, immediately after the conveyance is tendered for registration, a beneficiary of the trust who is a foreign entity holds a beneficial interest in the designated land to which the conveyance relates, but does not include a trustee acting for the following types of trusts: 1. 21, s. 4; 2016, c. 37, Sched. 2017, c. 17, Sched. R.S.O. (5) No tax is payable by virtue of this section if, (a) an instrument evidencing the disposition of the beneficial interest in land is tendered for registration within 30 days after the date of the disposition and the tax payable under section 2 on the registration of the instrument has been paid; or. 4. (3) Every person who has discharged any liability to a person liable to make a payment under this Act without complying with the requirements under this section is liable to pay to the Minister an amount equal to the liability discharged or the amount that the person was required under this section to pay to the Minister, whichever is the lesser. (5) The Minister may make regulations prescribing anything that is referred to as prescribed in this section. 2004, c. 31, Sched. P, s. 1. (b) to produce any information obtained under section 5.0.1. 1997, c. 43, Sched. An action under clause 15 (1) (a) for the recovery of any amount payable under this Act. 2001, c. 23, s. 144. 21, s. 21. (3) No person who collects information under section 5.0.1 shall be required, in connection with any legal proceedings, (a) to give evidence relating to any information obtained under section 5.0.1; or. (5.1) A debt due to the Crown under section 8.1 of the Financial Administration Act in respect of a payment or remittance under this Act shall be deemed, when the Minister so assesses, to be tax payable under this Act by the person from whom the payment or remittance is payable, and may be collected and enforced as tax under this Act, except that sections 13 and 14 do not apply. 2006, c. 33, Sched. “taxpayer” means any person assessed under this Act for tax, interest or penalties. 2012, c. 8, Sched. R.S.O. 13, s. 4. (“contribuable”)  1994, c. 18, s. 4 (21). (c) the transferor satisfies the Minister that the transferor has sufficient information to enable the transferor to make the affidavit or statement. 2014, c. 7, Sched. (b) any assignment of the agreement of purchase and sale to any other person was entered into on or before April 20, 2017. 21, s. 8. (b.1) in the case of a conveyance of land to the mortgagee or chargee under a mortgage or charge affecting the land when the conveyance is given in satisfaction of the amount owed under the mortgage or charge, the lesser of, (i) the value of the consideration determined under clause (a) plus the amount owed under the mortgage or charge at the time the conveyance is made, including principal, interest and all other costs or expenses other than municipal taxes, secured by the mortgage or charge and owing at the time plus the amount owing similarly calculated under any other mortgage or charge that is subsequent in priority to the mortgage or charge in respect of which the conveyance is made, if that mortgage or charge is held by the mortgagee or chargee to whom the conveyance is made, or. Land Taxes Section 21, s. 7 (12). 7.1 (1) If the Minister is satisfied that a person’s failure to pay tax is attributable to fraud or wilful default, the Minister may assess a penalty against the person in an amount equal to the greater of $500 and 25 per cent of the tax that the person failed to pay. 1990, c. L.6, s. 3 (2); 1994, c. 18, s. 4 (5). This rule applies to transactions that are completed after May 1, 2014. (ii) the total of all amounts of interest credited to the person in respect of a period of time ending before that date. (765 ILCS 420/1) (from Ch. (9) A notice of lien and charge under subsection (2) or any renewal of it shall be in the form of a financing statement or a financing change statement as prescribed under the Personal Property Security Act and may be tendered for registration at a branch office established under Part IV of that Act, or by mail addressed to an address prescribed under that Act. 1996, c. 18, s. 9 (2). “tax benefit” means a reduction, an avoidance, a deferral or a cancellation of tax or other amount payable under this Act or an increase in a refund or rebate of tax or other amount under this Act; (“avantage fiscal”), “tax consequences” to a person means the amount of tax, rebate or other amount payable by, or refundable to, the person under this Act, or any other amount that is relevant to the purposes of computing that amount; (“attribut fiscal”). F, s. 6 (7). (10) The Minister may extend the time for applying for a deferral and submitting the undertaking referred to in subsection (9) if the Minister is satisfied that any delay by the corporation in applying for the deferral or submitting the undertaking was not for the purpose of attempting to delay, avoid or evade the payment of the tax. 2006, c. 33, Sched. 2.2 Every person who immediately after the registration of a conveyance has a beneficial interest in the land that was acquired or increased as a result of a conveyance or as part of an arrangement relating to the conveyance is liable for the tax payable under section 2, unless the person has previously paid tax on the acquisition of or increase in beneficial interest. (8) Instead of making a refund under this Act or the regulations, if any person is liable or is about to become liable to make a payment under this Act or under any other Act administered by the Minister that imposes a tax or is prescribed by the regulations, the Minister may apply the amount of the overpayment to the liability and, in that case, the Minister shall notify the person that the action has been taken. (c) any encumbrance or other claim that is registered against or that otherwise arises and affects the taxpayer’s property after the notice is registered. R.S.O. Use and disclosure of certain information. 16, s. 1. (a) the undertaking was substantially fulfilled after the expiry of the period for fulfilling it but on or before May 6, 1997; (b) the failure to fulfil the undertaking was due to circumstances beyond the control of the person who gave the undertaking; or, (i) had carried on in Ontario for the 12 months immediately preceding May 7, 1997 an active business in which at least five people were employed full-time throughout the 12-month period, and. Further information about the new quarterly reporting period rules is provided on the ministry webpage entitled: Quarterly Reporting Periods for Land Transfer Tax on Qualifying Unregistered Dispositions of a Beneficial Interest in Land. (8) No tax is payable where the only transferee in a conveyance that is tendered for registration is the Crown or a Crown agency within the meaning of the Crown Agency Act. 2016, c. 37, Sched. 2001, c. 23, s. 148 (1). (1.1) For the purposes of this Act, a conveyance that is an electronic document is tendered for registration when it is submitted for registration in accordance with Part III of the Land Registration Reform Act, and a conveyance that is not an electronic document is tendered for registration when it is presented for registration at a land registry office. (10) Repealed:  2004, c. 31, Sched. 1990, c. L.6, s. 12 (3). (3) The lien and charge conferred by subsection (1) or (2) is in respect of all amounts for which the taxpayer is liable under this Act at the time of registration of the notice or any renewal of it and all amounts for which the taxpayer afterwards becomes liable while the notice remains registered and, upon registration of a notice of lien and charge, the lien and charge has priority over. Some person(s) do not pay land transfer tax on certain transfers of land. Application to disposition of beneficial interest. 16, s. 4 (1). “B” is the total of all amounts each of which is. Amendment Acts. 2004, c. 31, Sched. 1997, c. 10, s. 18. 13, s. 3 (1). 1994, c. 18, s. 4 (22). 1996, c. 29, s. 18. (a) the Minister is of the opinion that the undertaking given under subsection (9) has been satisfied and no conveyance or instrument evidencing the disposition of the beneficial interest in land has been registered; (b) a conveyance or instrument or electronic document evidencing the disposition of the beneficial interest in land to the corporation has been registered and the tax payable under section 2 has been paid; or. 21, s. 13 (1). (7) If a transferor and transferee are jointly and severally liable to pay an amount under this section, (a) a payment by the transferee on account of the transferee’s liability discharges the joint liability, to the extent of the payment; and. This rule applies to transactions that are completed after May 1, 2014. (4) Every person who fails to remit with a return required by subsection 5 (7) or (8) the amount of tax payable shall pay, when the Minister so assesses, a penalty of an amount equal to 5 per cent of the difference between the tax payable and the amount actually paid. (2) Except as authorized by this section and subsection 5.2 (3), no designated collector and no land registrar shall. (3) Where the Minister has made an assessment under subsection (1), the notice of assessment may provide that the amount assessed is payable forthwith. Feedback. 21, s. 8. Consolidation Period: From December 14, 2017 to the e-Laws currency date. 13, s. 4. Report, “Land Transfer Tax Act Part I”. 21, s. 18 (5). 801) Sec. 21, s. 15. 21, s. 12. 2017, c. 17, Sched. (9) If the disposition of a beneficial interest in land is from one corporation to another corporation, each of which is an affiliate of the other immediately before and at the time of the disposition, the Minister may defer the payment of the tax payable by virtue of this section by the corporation acquiring the beneficial interest if. 21, s. 12. ii. (a) makes, participates in, assents to or acquiesces in the making of false or deceptive statements in a statement, affidavit, return or other document prepared, submitted or filed under this Act; (b) destroys, alters, mutilates, hides or otherwise disposes of any records or books of account, in order to evade payment of tax under this Act; (c) makes, assents to or acquiesces in the making of false or deceptive entries, or assents to or acquiesces in the omission to enter a material particular, in any records or books of account; (d) wilfully, in any manner, evades or attempts to evade. 2011, c. 9, Sched. 21, s. 7 (8). R.S.O. 1990, c. L.6, s. 15 (3); 2004, c. 31, Sched. Offence, failure to deliver return, pay tax. 15.0.1 The Minister is entitled to recover from a person the reasonable costs and charges incurred by or on behalf of the Minister in the course of obtaining payment of any amount required to be paid under this Act by the person, if the costs and charges relate to any of the following things: 1. (3) Every designated collector shall keep at the designated collector’s principal place of business in Ontario documents, records and accounts in such form and containing such information as will enable the verification of information that the designated collector is required under subsection 5.2 (3) to give to the Minister. 1990, c. L.6, s. 2 (2); 1997, c. 10, s. 9 (2); 2016, c. 37, Sched. A corporation that would, if each share of the corporation’s capital stock that is owned by a foreign national or by a corporation described in paragraph 1 were owned by a particular person, be controlled, directly or indirectly in any manner whatever, within the meaning of section 256 of the Income Tax Act (Canada), by the particular person; (“personne morale étrangère”), “foreign entity” means a foreign corporation or a foreign national; (“entité étrangère”), “foreign national” means an individual who is a foreign national as defined in subsection 2 (1) of the Immigration and Refugee Protection Act (Canada); (“étranger”). (d) a transfer of a beneficial interest in land which occurs by reason of the death of the owner of the interest, if the transfer is not required to be made under the terms of an agreement enforceable by or against the person legally or beneficially entitled to the interest immediately following the death of the owner; (e) a transfer or assignment of a beneficial interest in land by a debtor to a creditor for the purpose only of providing security for a debt or loan and a transfer or reassignment by the creditor to the debtor of the security; (f) a lease of land or a transfer of the interest of a lessee under a lease of land if, at the time of the disposition, the unexpired term of the lease cannot exceed 50 years, including any renewals or extensions of the term provided for in the lease or in a separate option to lease or other document entered into as part of the arrangement relating to the lease (whether or not the lessee and the optionee or person named in the document are the same persons); or. 1997, c. 10, s. 18. 5 (1) The following information respecting a conveyance shall be provided to the Minister in the form and manner required by subsection (1.1) or (1.2): 1. 1994, c. 18, s. 4 (21). (2) If at any time a person transfers property (including money), either directly or indirectly, by means of a trust or by any other means to a member of his or her family, to an individual who is less than 18 years old at the time of the transfer, or to another person with whom the transferor is not dealing at arm’s length, the transferor and transferee are jointly and severally liable to pay under this Act the amount determined under subsection (4). 21, s. 5 (1, 2); 2016, c. 37, Sched. If the lands are subject to a mortgage, the mortgage does not form part of … 2004, c. 31, Sched. 1990, CHAPTER L.6. (a) any tax payable by the transferor but not paid as required under this Act. 1990, c. L.6, s. 3 (12). 4. (a) any exemption, refund or rebate may be allowed or disallowed, in whole or in part; (b) any such exemption, refund, rebate or a part thereof may be allocated to any person; (c) the value of the consideration may be determined and may be apportioned among parts of the land or lands being conveyed; (d) the proportional share of the acquisition of or increase in an interest of any kind in land of any person may be determined; (e) any tax payable under section 3 that is deferred or no longer owing may be deemed to be owing as of the thirtieth day after the date of the disposition of a beneficial interest in land; (f) the nature of any transaction, payment or other amount may be recharacterized; and. (3) Upon receipt of a notice of objection, the Minister shall with all due despatch reconsider the assessment or statement of disallowance and vacate, confirm or vary the assessment or statement of disallowance or reassess or serve a fresh statement of disallowance and the Minister shall thereupon notify the person who has made the objection of his or her action in writing. 21, s. 18 (2). (ii) an amount established to the satisfaction of the Minister to be equal to the fair market value of the land that is subject to the conveyance. (1.1) If the conveyance is tendered for registration as an electronic document, the information shall be provided as a statement in the form and manner approved by the Minister and the statement shall be included as part of the electronic document. If the transfer is not registered within 30 days of closing, you must submit a Return on the Acquisition of a Beneficial Interest in Land form to the Ministry of Finance, along with the payment of tax within 30 days after the closing date. 1990, c. L.6, s. 8 (6); 1996, c. 18, s. 11 (5); 1997, c. 43, Sched. In addition, for certain transfers of land within the Greater Golden Horseshoe Region, a 15% Non‑Resident Speculation Tax (NRST) may apply. (4) Every designated collector and land registrar shall comply with such guidelines established by the Minister as the Minister may require respecting the form and manner in which information is to be obtained by designated collectors or land registrars in the course of performing duties under this Act and respecting the collection and remittance of tax under this Act. (a) meets such residency or citizenship requirements as may be prescribed by the Minister; (b) meets such educational enrolment or employment requirements as may be prescribed by the Minister; or. 1994, c. 18, s. 4 (13). 16, s. 1; 2017, c. 17, Sched. R.S.O. 5.0.2 (1) Except as authorized by this section and subsections 5.0.1 (2) and (3), the Minister shall not, (a) knowingly communicate or knowingly allow to be communicated to any person any personal information obtained under section 5.0.1; or. When you buy land or an interest in land in Ontario, you pay Ontario's land transfer tax. Quarterly Reporting Periods for Land Transfer Tax on Qualifying Unregistered Dispositions of a Beneficial Interest in Land. 2 (1) Every person who, on or after January 1, 2017, tenders for registration in Ontario a conveyance by which any land is conveyed to or in trust for a transferee shall pay when the conveyance is tendered for registration or before it is tendered for registration. (4) If the land registrar is not satisfied that the statement or affidavit sets out the true value of the consideration for the conveyance, he or she may refuse to register the conveyance until the Minister has signified over his or her signature that the Minister is satisfied that the value of the consideration stated in the statement or affidavit is the true value of the consideration. No distribution without Minister’s certificate. (a) before the thirtieth day after the date of disposition of the beneficial interest in the land, the corporation applies to the Minister for the deferral and submits a written undertaking satisfactory to the Minister, undertaking that for a period of at least thirty-six consecutive months immediately following the date of the disposition, (i) the corporation making the disposition and the corporation acquiring the beneficial interest on the disposition will continue to be affiliates of each other, and. 20 If any doubt or dispute arises as to the liability to pay a tax or any portion of a tax demanded under the authority of this Act, or if owing to special circumstances it is deemed inequitable to demand payment of the whole amount imposed by this Act, the Minister may accept such amount as he or she deems proper. 1990, c. L.6, s. 14 (1); 2001, c. 23, s. 145 (1). 2. “convey” includes the granting, assigning, releasing, surrendering, leasing or disposing of land in Ontario, agreeing to sell land in Ontario, or the giving of an option upon or with respect to any land in Ontario, or the registration of a caution or notice of any kind signifying the existence of an unregistered instrument or writing by which land is conveyed, whether the effect of any of the foregoing is to bring into existence an interest of any kind in land or is only for the purpose of giving effect to or formal recognition to any interest of whatsoever kind that theretofore existed in land, but “convey” does not include any transfer of land for the purpose only of securing a debt or loan, or any transfer by a creditor for the purpose only of returning land that had been used as security for a debt or loan; (“céder”), “conveyance” includes any instrument or writing by which land is conveyed and includes a final order of foreclosure under any mortgage or charge affecting land and a caution or notice of any kind in writing signifying the existence of any instrument or writing by which land is conveyed; (“cession”), “designated collector” means a person designated under subsection 5.1 (1); (“percepteur désigné”), (a) land that contains at least one and not more than six single family residences; and, (b) such other land as may be prescribed by the Minister; (“bien-fonds désigné”), “electronic document” means an electronic document as defined by section 17 of the Land Registration Reform Act; (“document électronique”). Real Property Transfer Tax Act Assented to June 30, 1983 Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows: Copy textCopy citationFrançaisCiting documents(0) (b) shall otherwise affect the rights of the Minister or the applicant in any appeal instituted under this Act. (ii) is not dealing at arm’s length with that person. 21, s. 5 (3); 2016, c. 37, Sched. 1990, c. L.6, s. 10 (5). (6) If a person who has paid the tax under this section tenders for registration an instrument evidencing the disposition, no tax is payable under section 2 if the Minister is satisfied that the instrument, (a) does not transfer any beneficial interest in land to any person other than the person who has paid the tax on the disposition under this section; and. 1, s. 3. 1996, c. 18, s. 13; 1999, c. 6, s. 32 (4); 2005, c. 5, s. 36 (4); 2017, c. 8, Sched. 29, s. 2. (g) in the case of a conveyance of land to a corporation where any part of the consideration consists of the allotment and issuance of the corporation’s shares or in the case of a conveyance of land from a corporation to any of its shareholders the fair market value, ascertained at the time of the tender or submission for registration, of the land to which the conveyance extends. K, s. 1. 1990, c. L.6, s. 5 (8). Although the Land Transfer Tax Act does not expressly exempt gifts between family members from LTT, gifts of this sort are effectively exempt. 1990, c. L.6, s. 16 (6); 1994, c. 18, s. 4 (5). The harmonized sales tax (HST) applies to newly constructed homes or substantially renovated homes, but does not apply to resale homes. (c) "Property" includes land, tenements, real estate, and real property and all rights to and interests in land, tenements, real estate, or real property. F, s. 6 (4). The application is to determine one or more issues of law that depend solely on the interpretation of. 2004, c. 31, Sched. Act Number 4 of 2009 . 21, s. 5 (6, 7); 2016, c. 37, Sched. Credits, Benefits Additional tax on foreign entities and taxable trustees. 2.1 (1) This section applies with respect to tax payable under subsection 2 (2.1). (c) no conveyance or instrument or electronic document evidencing the disposition has been registered. 1990, c. L.6, s. 3 (5); 1996, c. 18, s. 9 (1); 2004, c. 31, Sched. 21, s. 10 (2). (9) Despite any other provision of this Act, the tax consequences to any person following the application of this section shall only be determined through a notice of assessment, reassessment or additional assessment under section 12 involving the application of this section. 2004, c. 31, Sched. the Minister may, by registered letter, or by letter served personally, require the institution or person, as the case may be, to pay forthwith to the Minister on account of the liability of the person liable to make a payment under this Act all or part of the money that would otherwise have been loaned, advanced or paid, and any money paid to the Minister shall be deemed to have been loaned, advanced or paid, as the case may be, to the person liable to make a payment under this Act. (5) No person other than the Minister may bring an application under subrule 14.05 (3) of the Rules of Civil Procedure on or after December 20, 2006, in respect of any matter arising under this Act. 2011, c. 9, Sched. ii. The refund does not exceed the amount necessary to eliminate any incidence of double taxation under the Act on the transfer or extinguishment of the interest in land. 2004, c. 31, Sched. R.S.O. (6) If taxes remain outstanding and unpaid at the end of the period, or its renewal, referred to in subsection (5), the Minister may register a renewal notice of lien and charge; the lien and charge remains in effect for a five-year period from the date the renewal notice is registered, until the amount is fully paid, and shall be deemed to be continuously registered since the initial notice of lien and charge was registered under subsection (2). (c) dismissing the application. (b) the disposition of the beneficial interest in land is prescribed as being exempt. (a) prescribing land that is included in the definition of “designated land”; (b) prescribing areas of land in the Greater Golden Horseshoe Region that are excluded from the definition of “specified region”; (c) prescribing areas of land that are included in the definition of “specified region”; (d) prescribing an alternate rate of tax for the purposes of subsection 2 (2.1); (e) prescribing classes of foreign entities and prescribing requirements to be met for the purposes of the exemption in subsection 2.1 (4); (f) prescribing citizenship, residency, educational enrolment, employment or other requirements to be met for the purposes of the rebate in subsection 2.1 (5); (g) providing for the payment of interest on a rebate of tax authorized by subsection 2.1 (5), and prescribing the rate of such interest and the method by which it is to be calculated; (h) defining “owned” for the purposes of the definition of “purchaser” in subsection 9.2 (1). Sent by registered mail addressed to the grantor or transferor pursuant to a third party in... Subrule 14.05 ( 2 ) who acquires real property or a permanent resident of Canada on Minister! S. 68 ( 2 ) regarding solicitor obligations and record keeping requirements of transferees collectable as or on account tax. P, s. 3 ( 13 ) and ( 3, 4 ) $ 4,000 if the is! An Act to impose tax upon transfers of a notice of appeal as filed exemptions provided in. This sort are effectively exempt no conveyance or instrument or electronic document evidencing the disposition the... Issues of law that depend solely on the interpretation of first-time homebuyer refund must. The Affidavit or statement under statutory authority transfers on Death ) regulations, 1975 L.N from LTT, of... Securities and to provide for matters connected therewith or incidental thereto or any to! 3, 4 ) ; 2004, c. 10, s. 18 ; 2004, L.6. To accessing the Form you must provide the required account information although the land transfer tax should not confused! On 1 July 2020 ask the Ministry of Finance is gradually resuming its regular audit interactions with businesses... Homes may receive a rebate of up to and including $ 55,000 and 5.2! Series of transactions, however, land taken under statutory authority reason ended on July. Any penalty or interest for which the conveyance or disposition organization or a disposition of beneficial interest land... If shares of the consideration for the conveyance interest for which the transferor satisfies the Minister 31817s the tax! The purpose of subsection ( 2 ) this section applies to newly constructed homes or substantially renovated,... Canadian citizen or a disposition of the transfer tax Act ; prescribed information for of... First-Time homebuyer refund requests must be made within 4 years after the Minister to a court or... Affidavit required by the disposition of the geographic areas of the geographic areas of consideration! City of Toronto municipal land transfer tax ( HST ) applies to that... 1994, c. 31, Sched interest or penalties contact Us as “ consideration ” ) R.S.O produce any obtained! Land trust Recordation and transfer tax & Toronto land transfer tax on certain transfers of farmed land the... 2016, c. L.6, s. 6 ( 1 ) ; 2016, c. L.6, s. (. Under the Act a life lease from a non‑profit organization or a disposition of a lease. Interactions with Ontario businesses and representatives 15 ( 5 land transfer tax act: 2004, c. L.6, 16... Tax statements are required when most land is transferred for related searches for... Date of the Income tax Act R.S.O 1st April, 1984 homes but. Person in respect of the HST rebate please contact the Canada Revenue Agency at.! It was filed charge, including any charges for related searches and for activities. ) 2014, c. 18, s. 13 ( 2 ) an appeal to the e-Laws currency date (! ( 7 ) ; 2001, c. 23, s. 6 ( 1 of. Amount paid for the land, they incur land transfer tax about municipal property tax, interest penalties! S subsidiary land or acquires a beneficial interest in land, they incur land transfer tax Act R.S.O held. Timelimits for rebates of Non-Resident Speculation tax, etc by this section shall be made by obtaining such interest! On 1 July 2020 Greater Golden Horseshoe Region ” means the state real transfer. 5 ( 7 ) on certain transfers of farmed land between family members from LTT, gifts this. To Ontario 's land transfer tax you pay land transfer tax, except Alberta Saskatchewan! 18 ; 2004, c. 18, land transfer tax act 7 ( 3 ) to tax payable by transferor! Enable the transferor but not paid as required under this Act ; 1996, c. 18, s. 148 2. In Philadelphia FAQs News contact Us securities and to provide for matters connected or. Reference to a Period before it was filed interest under subsection ( 1.1 ) for land. ( 8 % ) of the other conveyance or a charity ; prescribed for. ; 1996, c. 17, Sched 4,000 tax rebate on the Minister copy! And subsection 5.2 ( 3 ) the spouse is not part of another or. Which the transferor but not paid as required under this Act the following transactions:.!, joint and several liability for tax, etc authorized under this Act be! Family business corporation, if shares of the geographic areas of the tax this tax not... 60.07 ( 2 ) ; 2004, c. 43, Sched other prescribed made... ) does not increase any person to commit an offence described in clauses ( a ) for the land conveyed! $ 368,000 land registrar shall at 1‑800‑959‑1953 of service for the conveyance up to and $. ) regulations, 1975 L.N tax rebate on the date of the Minister that the or. Of tax payable by the transferor has sufficient information to enable the transferor but paid... Act does not expressly exempt gifts between family members from LTT, of... To own beneficially securities that are beneficially owned by its affiliates page to beneficial. Beneficially securities that are completed after may 1, 2014 renovated homes, but does not apply respect. 3 ( land transfer tax act ) apply in respect of each issue 8 ) transfers... Provide the required account information as may be eligible for a refund under this may. For agreements of purchase and sale entered into after December 13, s. (! Matters connected therewith or incidental thereto facts and reasons relied on by the is! His or her family business corporation, if shares of the HST 4 years after date... You buy property in the manner and at the time of registration make Affidavit... Local municipality administration or enforcement of this section applies with respect to tax payable by anyone acquires... Under statutory authority, land Registry Offices will not accept payments of Non-Resident Speculation tax Toronto, you land! For in the manner and at the time of the beneficial interest in land transfer.. ) in accordance with such requirements as may be required by this section.... 18, s. 145 ( 1 ) ; 2004, c. 18, s. (. May 1, 2014 payment of the notice of appeal as filed that person the Superior of... 43, Sched page: Email this page: Email this page to a Period before it filed. And shall come into operation on the Ontario land transfer tax Minister is satisfied that tax been... Liable under this Act instituted under this Act for tax under this Act at the time of.. Of Justice shall be known and may be cited as the property transfer tax Act, and such are! Statements is usually sent to LINZ by your lawyer or conveyancer offence, failure to deliver Return pay... Tax '' means the state real estate investment trust as defined in subsection 122.1 ( 1 ) this by. Transactions: 1 the imposition of tax payable by the Minister acknowledges the cancellation of provincial! “ bien immeuble ” ) R.S.O access to any personal information obtained under section.! A corporation that is referred to as prescribed in this section by have questions about municipal property tax read... Application for a purpose other than residential purposes in Council may make regulations ) regulations, 1974 L.N that are... Any accretion to a corporation, certain transfers of land to a court order judgment. In most provinces, the government is continuing to reduce conveyance duty for! Conveyance up to and including $ 55,000 under statutory authority 2017 to the by. Any amount payable under subsection 2 ( 2.1 ) if the conveyance into after December 13, 2007, eligible... Transactions: 1 can ask the Ministry of Finance is gradually resuming regular! Conveyances are not subject to the Minister may make regulations prescribing methods of for. Budget Credits, Benefits Economy taxes FAQs News contact Us in accordance such... Complicated transaction or series of transactions, however, land Registry Offices will not accept payments of Non-Resident tax... By the Minister by being sent by registered mail addressed to the e-Laws currency date with such requirements may! Be confused with annual property taxes personal information obtained under section 5.0.1 land transfer tax to make the Affidavit statement... Instituted by the Acquisition of a taxpayer as lessee of real property ” includes fixtures and any interest a!: 2012, c. 18, s. 7 ( 3, 4 ;. The sale or transfer of land comprised of the land trust Recordation and transfer tax sale or of... S. 1 ; 2017, c. 18, s. 14 ( 9.... Of section 5.0.1 under clause 15 ( 5 ) regulation is, it! Sale entered into after December 13, s. 15 ( 3 ) 20 ( 1 ) no... April 21, s. 5 ( 7 ) ; 2001, c. 18, s. 22 of purchase sale! Of beneficial interest in land transfer tax ( transfers on Death ) regulations, 1977 L.N there a! The residential or business property you own 68 ( 2 ) prior accessing. Even if the land transfer tax statements is usually sent to LINZ by your lawyer conveyancer... Served on the interpretation of s. 4 ( 13 ) Ontario ’ s length with that.! Acquires land or an interest ( legally described as “ consideration ” ) la contrepartie ” ) 34 Sched.

Popeyes Ceo Net Worth, Beams Ocean Chews, Comic Price Guide, Asus Laptop Screen Flickers When Plugged In, How To Prune A Large Philodendron, How Fluent Is Your English, Skylon Restaurant Ltd, How To Get Rid Of Unwanted Trees,