Toronto to increase land transfer taxes on residential properties over $3M.

Sunday Oct 8th, 2023

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In an effort to minimize the deficit the municipality of Toronto is introducing or proposing multiple measures to combat the deficit, one of them will be additional thresholds of the land transfer tax for residential properties selling at $3M or more starting January 1, 2024. Residential properties affected by it are defined as single family residences with no more than 2 residential units. The graduated municipal land transfer  for high value residential properties will be as... [read more]

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