The requirements are as follows:
- The buyer cannot have previously owned a home, or had any ownership interest in a home, anywhere in the world, at any time.
- If the buyer has a spouse, the spouse cannot have owned a home, or had any ownership interest in a home, anywhere in the world, while he or she was the buyer's spouse. If this is the case, no refund is available to either spouse.
- The buyer must be at least 18 years of age.
- The application for a refund must be made within 18 months after the date on which the conveyance or disposition occurred.
- The buyer must occupy the home as his or her principal residence no later than nine months after the date of the conveyance or disposition.
- The buyer cannot have previously received an Ontario Home Ownership Savings Plan (OHOSP)-based refund of land transfer tax.
As of January 1, 2017, the Province has restricted eligibility for the land transfer tax refund for first-time home buyers to Canadian citizens and permanent residents. First-time home buyers who become Canadian citizens or permanent residents within 18 months of purchasing a home can apply for the refund within this 18-month period.
As of March 1, 2017, the City of Toronto has also amended the first-time homebuyer rebate program eligibility rules to make them consistent with the current Ontario Land Transfer Tax rules by restricting rebate eligibility to Canadian citizens or permanent residents of Canada.
However, unlike the changes to the Ontario Land Transfer Tax rules, the City of Toronto is not allowing a transitional period for the new MLTT rates and rules to exempt transactions initiated before March 1, 2017.