First-time buyers can withdraw up to $60,000 from their RRSP tax-free, provided it is repaid over 15 years. 3. The "Toronto Tax" & Closing Costs
Toronto is the only city in Ontario where you must pay land transfer taxes: one to the province and one to the city. What First-Time Home Buyers Need to Know in Ontario
New federal regulations have significantly altered the landscape for Toronto buyers, particularly in the high-demand price range.
Contributions are tax-deductible (like an RRSP) and withdrawals are tax-free (like a TFSA) when used for a first home.
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