
Closing Before Year-End in Canada: Mortgage Interest Deduction Timing
Understanding the tax implications of mortgage closing dates in Canada and what year-end timing actually affects.
Articles about closing under Mortgage.

Understanding the tax implications of mortgage closing dates in Canada and what year-end timing actually affects.

Land transfer tax rates and first-time buyer rebates vary significantly across Canadian provinces, with Ontario and British Columbia charging the highest rates while most provinces levy no transfer tax at all.

Ontario charges land transfer tax on every property purchase. Learn how the progressive tax rates work and whether you qualify for the first-time buyer rebate.

Ontario land transfer tax is a closing cost based on the home's purchase price. First-time buyers may qualify for a provincial rebate, and Toronto buyers may also owe municipal land transfer tax.
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