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Nov 01 2019

Ontario’s Housing Supply Action Plan

Have you wondered why there seem to be a lot more construction projects in the GTA lately? You are not alone. There has in fact been a rise in the pace of construction in not just the GTA, but the entire province lately. I have often marveled at how quickly some housing projects seem to get completed. Often in my commute to and from work I have noticed high rise buildings that seem to sprout like a magical beanstalk overnight. But did you know that on average it takes 10...

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Dec 14 2016

Land Transfer Tax in Residential Real Estate Purchase

 In the province of Ontario, a purchaser who buys land or has a beneficial interest in land is required to pay Ontario’s land transfer tax upon the transaction closing. The Land Transfer Tax Act R.S.O. 1990, c. L.6 (“the Act”) governs the tax payable to the Province upon the registration or beneficial disposition of an interest in land. The Act provides that every instrument should have attached to it an affidavit. This affidavit is a sworn document by the purchaser, which sets out the value of consideration. You can find...

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