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Potential new homeowners around the gta(If you are thinking of buying in Mississauga, Oakville, Scarborough, and all parts further away from central Toronto) breathed a sigh of relief today as the Municipal Land Transfer tax won't be a thing that is emptied out of their bank accounts when they buy a home outside of central Toronto.   Having said that, it will likely pass some day in to the future, but it didn't today, so... Victory.   For now it's how it's been, where you pay a fee for buying into living ever so closer to a view of the CN tower.   But if the CN tower is but a spec off into the distance, you don't.  Though I guess if you are thinking of buying a home with a view away from the CN Tower or with something in the way you are very confused right now.   You might want to consult a map.

 

Here's a quote from the Minister of Municipal Affairs and Housing: "While we are currently reviewing the feedback from our partners, it is clear is that there has been no call for a Municipal Land Transfer Tax.  I was pleased communicate our government's position today, that other than in Toronto, where the power already exists, our government will not be extending Municipal Land Transfer Tax powers to other Ontario municipalities."


So...buy away my friends... before they change their mind.

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