TigerEric
New Member
Hi,
My girlfriend and I are both first time home buyers. We are both planning to buy a condo together. I know there is a rebate for first time home buyers for both municipal land transfer tax and provincial land transfer tax.
So if we both buy the condo together, does that mean we both use up our chance to get a rebate?
So in the future if we decide to get a house together, then we won't qualify for any land transfer tax rebate?
If this is the case, what is the best way for us to both maintain our eligibility for a refund? Does it mean that only one of us buys the condo now, and that leaves the other still eligible for a rebate in the future? how will the mortgage work if one person buys the condo but both of us are contributing to mortgage?
please advise. thanks.
My girlfriend and I are both first time home buyers. We are both planning to buy a condo together. I know there is a rebate for first time home buyers for both municipal land transfer tax and provincial land transfer tax.
So if we both buy the condo together, does that mean we both use up our chance to get a rebate?
So in the future if we decide to get a house together, then we won't qualify for any land transfer tax rebate?
If this is the case, what is the best way for us to both maintain our eligibility for a refund? Does it mean that only one of us buys the condo now, and that leaves the other still eligible for a rebate in the future? how will the mortgage work if one person buys the condo but both of us are contributing to mortgage?
please advise. thanks.