Sentences with phrase «municipal land transfer tax»

Think about our collective efforts over the years with respect to maintaining Canadian tax - free capital gains on home equity, eliminating municipal land transfer tax and numerous other issues.

«From municipal land transfer taxes to sky - rocketing property taxes, homeowners are being pushed to the brink to accommodate increasing demands from government.

For Torontonians, the real estate taxman hits twice, with Canada's only municipal land transfer tax, which is paid in addition to the provincial tax.

It would be subject to an approximate $ 5,725 municipal land transfer tax in addition to the 0.5 % to 2 % provincial land transfer tax.

As a taxation measure granted under the City of Toronto Act, 2006, Toronto City Council approved a new Municipal Land Transfer Tax effective February 1, 2008 that will be applied to purchases on all properties in the city of Toronto in addition to the Province's Land Transfer Tax.

«From municipal land transfer taxes to sky rocketing property taxes, homeowners are being pushed to the brink to accommodate increasing demands from government.

One of the culprits for the revenue gap is the Municipal Land Transfer Tax (LTT), which was implemented in February 2008 in Toronto.

In any case, once the Assignment Agreement is reached, it will be the new buyer who is obliged to pay Land Transfer Tax and any Municipal Land Transfer Tax on closing, not the original buyer.

When negotiating the deal, the original buyer and the new buyer must discuss the structure of the deal between them, to ascertain the exact selling price on which the Land Transfer Tax (and any Municipal Land Transfer Tax) should be payable; whether it is the original buyer's price with the builder (net of HST and the HST New Housing Rebate, which is discussed below), or whether it's the newly inflated price being paid by the new buyer under the assignment.

The most embarrassing oversight Jesse and I made during the sale was not realizing there are both a municipal land transfer tax (in Toronto only) and a provincial land transfer tax.

It reaffirms that the Municipal Land Transfer Tax is a bad revenue tool, not just outside Toronto but in it as well,» says Patricia Verge, president of the Ontario Real Estate Association (OREA).

When negotiating the deal, the original buyer and the new buyer must discuss the structure of the deal between them, to ascertain the exact selling price on which the Land Transfer Tax (and any Municipal Land Transfer Tax) should be payable; whether it is the original buyer's price with the builder (net of HST and the HST New Housing Rebate, which is discussed below), or whether it's the newly inflated price being paid by the new buyer under the assignment.

Toronto is the only municipality in Ontario where home buyers are forced to pay a municipal land transfer tax.

New research released by the Ontario Real Estate Association (OREA) says the city's Municipal Land Transfer Tax is causing «a massive loss of economic activity in the City of Toronto and a corresponding loss of thousands of jobs.»

Ontario's provincial government has decided it will not extend the power to charge a Municipal Land Transfer Tax to municipalities outside of Toronto, where it already exists.

In that role, he led the association to a number of high - profile government relations wins, the association says, including OREA's successful campaign to stop the spread of the municipal land transfer tax and doubling the land transfer tax relief.

OREA's Board of Directors has approved a multi-faceted campaign to stop the spread of the municipal land transfer tax.

«Our message to policy makers is that the municipal land transfer tax is unfair, unbalanced and economically irresponsible,» says OREA president Phil Dorner.

«Our message to policy makers is that the municipal land transfer tax is unfair, unbalanced and economically irresponsible,» says Dorner.

«OREA has had a very long, positive working relationship with Tim collaborating on a number of issues of importance to Ontario Realtors, such as electronic signatures on real estate transactions, the creation of a grow - op registry and stopping the spread of the municipal land transfer tax,» says Ferris.

* Municipal land transfer tax — preventing the spread of a municipal land transfer tax across Ontario;

Last October, Mississauga City Council considered a motion asking the Ontario government to give municipalities the ability to levy a municipal land transfer tax.

MREB president Allan Todd, GRC Chair Garry Klassen, past - president Diane Kalenchuk and moderator John Cassan will ask the candidates to respond to videoed questions from the street and ask about topics such as the municipal land transfer tax, transportation, creating jobs, attracting business and fiscal concerns.

It says that the ministry «has indicated that they will move ahead with granting municipalities across the province the ability to impose a municipal land transfer tax, disregarding views expressed by Ontarians during this important public process.»

The Ontario Real Estate Association (OREA) won a bronze award from the Canadian Public Relations Society (CPRS) for its advocacy campaign to stop the spread of the municipal land transfer tax (MLTT) beyond Toronto.

The goal of the campaign was to convince the provincial government not to allow the Municipal Land Transfer Tax to be levied by cities beyond Toronto and to raise awareness of the implications of another tax.

Ferris says that «OREA scored what is probably its biggest government relations win in our association's history, by stopping the spread of the municipal land transfer tax across Ontario.»

The Ontario Ministry of Municipal Affairs and Housing plans to give every municipality province wide the power to charge a Municipal Land Transfer Tax (MLTT), says the Ontario Real Estate Association (OREA).

But the answer is not a municipal land transfer tax.

The Toronto Real Estate Board's (TREB) efforts to scrap the Municipal Land Transfer Tax have been set back, with a new mayor - elect to convince after Monday night's election.

«If the city adopts a land transfer tax, Toronto home buyers will be faced with a double whammy of land transfer taxes — a municipal land transfer tax and a provincial land transfer tax,» says Mason.

Although the municipal land transfer tax has been a financial windfall for the city, it has led to a chronic shortage of listings.

(Not to mention you'll also pay a municipal land transfer tax if you're buying in Toronto.)

Toronto has the dubious honour of being the only city in Canada to have a municipal land transfer tax.

(And I know it's a windfall for the city, but the municipal land transfer tax needs to go in Toronto.)