OREA urges MPPs to oppose any new land transfer tax

by REP04 Nov 2015
Today a motion was introduced by Leeds-Greenville MPP Steve Clark asking MPPs to vote on the following: “In the opinion of this House, the Government of Ontario should not impose, or help municipalities facilitate the imposition of, any new municipal land transfer taxes (MLTT).”

MPPs will have a chance to vote on the motion on Dec. 3. The motion will be debated and voted on during “Private Member’s Business,” which means MPPs can speak and vote free of party influence. Patricia Verge, president of the Ontario Real Estate Association, hopes this means MPPs will oppose any new taxes.

“MPPs have a chance to represent the will and interests of their constituents and oppose this unfair tax,” Verge said. “We’re calling on Ontarians to let their MPPs know home buyers are stretched enough and already pay enough tax by going to www.DontTaxMyDream.ca.”

Clark’s motion is a response to the revelation that the Ontario government wants to give municipalities the ability to charge a second land transfer tax on the purchase of a home. According to OREA, the imposition of this tax province-wide would make Ontario the most taxed jurisdiction in North America when it comes to buying as home.

“Ontario home buyers are already charged a provincial land transfer tax, so by adding a municipal tax, they would essentially be doubling the tax burden on Ontario families,” Verge said. “If the Ontario Liberals follow through with this plan, home buyers will be forced to pay $10,000 in total land transfer taxes on the average priced home, starting as early as next year.”

According to an Ipsos Reid poll, 89% of Ontarians outside of Toronto oppose a new municipal land transfer tax. Seventy-seven percent said a new tax would limit their ability to afford a home, and 75% said the imposition of a new tax would make it likely that they would have to delay a new home purchase.

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