SOURCE: Ontario Real Estate Association

Ontario Real Estate Association

December 01, 2015 14:20 ET

Ontario Government Announces Municipal Land Transfer Tax Will Not Be Extended to Municipalities Across the Province

TORONTO, ON--(Marketwired - December 01, 2015) - Today, the Honourable Ted McMeekin, Minister of Municipal Affairs and Housing, announced that the government will not be extending the Municipal Land Transfer Tax power to Ontario municipalities outside of Toronto, where the power already exists.

"This is a huge win for Ontario's home owners and those who dream of one day owning a home. It reaffirms that the Municipal Land Transfer Tax is a bad revenue tool, not just outside Toronto but in it as well," said Patricia Verge, president of the Ontario Real Estate Association (OREA). "On behalf of OREA, I want to thank Minister McMeekin for his leadership on this issue and for standing up for Ontarians who said, by the thousands, that this is not a fair or equitable tax."

During Question Period, McMeekin declared: "I was pleased to communicate our government's position today, that other than in Toronto, where the power already exists, our government will not be extending Municipal Land Transfer Tax powers to other Ontario municipalities."

Verge continued: "I would like to also acknowledge MPPs on all sides of the legislature who spoke both publicly and privately against the tax. Your work has helped protect affordable home ownership for future generations."

"Finally, I'd like to thank the public who rallied with us to put a stop to the spread of this tax and to OREA's 62,000 members for their feedback, dedication and commitment over the past weeks."

OREA led a five‐week campaign called 'Don't Tax My Dream' (www.donttaxmydream.ca) that saw Realtors and 32,000 members of the public voice their opposition to the spread of the Municipal Land Transfer Tax province‐wide.

About OREA

The Ontario Real Estate Association represents 62,000 brokers and salespeople who are members of the 40 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. www.OREA.com.

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