Be prepared to pay thousands of dollars more for your dream house. The province is set to give all municipalities the right to double the amount of land transfer tax you’ll pay on your next real estate deal.
“This is an unfair, unsustainable and unpredictable tax,” Patricia Verge, president of the Ontario Real Estate Association (OREA), told me Monday.
Approximately $300 million is raised annually in Toronto through the land transfer tax.
Are you prepared to pay even more money to live in Toronto? Do you think the land transfer tax is unfair?
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