First time home buyers' previous exemption amount
Publication date: November 17, 2021Information on this page is for properties registered at the Land Title Office before April 1, 2024 but after February 21, 2017.
If you registered your home on or after April 1, 2024 see the current first time home buyers exemption amounts.
The First time home buyers' exemption amount is deducted from the amount of tax you would normally pay. Find out how much tax is payable if your property was registered before April 1, 2024 and the property transfer is:
100% Eligible
Below is the amount of tax payable if 100% of the property transfer is eligible for the first time home buyer's exemption.
| Fair market value | Exemption amount | Tax payable |
|---|---|---|
| Less than $500,000.00 | Full amount of tax normally due | $0 |
| $500,000.00 | $8,000.00 | $0.00 |
| $501,000.00 | $7,699.20 | $320.80 |
| $502,000.00 | $7,396.80 | $643.20 |
| $503,000.00 | $7,092.80 | $967.20 |
| $504,000.00 | $6,787.20 | $1,292.80 |
| $505,000.00 | $6,480.00 | $1,620.00 |
| $506,000.00 | $6,171.20 | $1,948.80 |
| $507,000.00 | $5,860.80 | $2,279.20 |
| $508,000.00 | $5,548.80 | $2,611.20 |
| $509,000.00 | $5,235.20 | $2,944.80 |
| $510,000.00 | $4,920.00 | $3,280.00 |
| $511,000.00 | $4,603.20 | $3,616.80 |
| $512,000.00 | $4,284.80 | $3,955.20 |
| $513,000.00 | $3,964.80 | $4,295.20 |
| $514,000.00 | $3,643.20 | $4,636.80 |
| $515,000.00 | $3,320.00 | $4,980.00 |
| $516,000.00 | $2,995.20 | $5,324.80 |
| $517,000.00 | $2,668.80 | $5,671.20 |
| $518,000.00 | $2,340.80 | $6,019.20 |
| $519,000.00 | $2,011.20 | $6,368.80 |
| $520,000.00 | $1,680.00 | $6,720.00 |
| $521,000.00 | $1,347.20 | $7,072.80 |
| $522,000.00 | $1,012.80 | $7,427.20 |
| $523,000.00 | $676.80 | $7,783.20 |
| $524,000.00 | $339.20 | $8,140.80 |
| $525,000.00 | $0 | $8,500.00 |
50% Eligible
If only part of the property transfer is eligible (e.g. not all of the purchasers qualify), the exemption amount will be reduced. The amount of the exemption is reduced by the percentage of the property transfer that isn't eligible.
Below is the amount of tax payable if 50% of the property transfer is eligible for the first time home buyer's exemption.
| Fair market value | Exemption amount | Tax payable |
|---|---|---|
| $500,000.00 | $4,000.00 | $4,000.00 |
| $501,000.00 | $3,849.60 | $4,170.40 |
| $502,000.00 | $3,698.40 | $4,341.60 |
| $503,000.00 | $3,546.40 | $4,513.60 |
| $504,000.00 | $3,393.60 | $4,686.40 |
| $505,000.00 | $3,240.00 | $4,860.00 |
| $506,000.00 | $3,085.60 | $5,034.40 |
| $507,000.00 | $2,930.40 | $5,209.60 |
| $508,000.00 | $2,774.40 | $5,385.60 |
| $509,000.00 | $2,617.60 | $5,562.40 |
| $510,000.00 | $2,460.00 | $5,740.00 |
| $511,000.00 | $2,301.60 | $5,918.40 |
| $512,000.00 | $2,142.40 | $6,097.60 |
| $513,000.00 | $1,982.40 | $6,277.60 |
| $514,000.00 | $1,821.60 | $6,458.40 |
| $515,000.00 | $1,660.00 | $6,640.00 |
| $516,000.00 | $1,497.60 | $6,822.40 |
| $517,000.00 | $1,334.40 | $7,005.60 |
| $518,000.00 | $1,170.40 | $7,189.60 |
| $519,000.00 | $1,005.60 | $7,374.40 |
| $520,000.00 | $840.00 | $7,560.00 |
| $521,000.00 | $673.60 | $7,746.40 |
| $522,000.00 | $506.40 | $7,933.60 |
| $523,000.00 | $338.40 | $8,121.60 |
| $524,000.00 | $169.60 | $8,310.40 |
| $525,000.00 | $0 | $8,500.00 |
Contact information
If you aren't sure what exemption amount you may qualify for, contact us or your legal professional.