News

NRST and the Section 5.0.1 Information Form – Resources for Practitioners

  • May 02, 2017

Since the NRST and changes to LTT reporting requirements were announced, the OBA Real Property Law Section has been working with the Ministry of Finance and other stakeholders to seek clarifications on the changes. An upcoming webcast will address these and other practical issues faced by Real Estate practitioners in Ontario.

New Land Transfer Tax Disclosures Required Beginning April 24, 2017

  • April 18, 2017

The Ministry of Finance on April 13, 2017 announced supplemental reporting requirements ‎pursuant to recent amendments to the Land Transfer Tax Act. Effective April 24, 2017, prescribed information on the purchasers and property being conveyed must be filed through a separate report through Teranet‎ eXpress. This information form is separate from the Land Transfer Tax affidavit that forms part of the electronic or paper registration.