First time home buyers of new AND re-sale homes will receive a rebate of the Toronto land transfer tax of up to $3,725 (this equals a 100% rebate on homes purchased for up to $400,000). The City has not yet provided clarification on how rebates will be administered.
So they're sticking with a rebate? This would mean paying up front and then getting the money back later. Is there no way to come up with a proof of first time purchase, and avoid the give and take exercise of a rebate scheme?