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Ontario offers 1st-time homebuyers bigger tax break

The Ontario government is moving to double the maximum tax rebate offered to first-time home-buyers while boosting the land-transfer tax on house purchases above $2 million. Finance Minister Charles Sousa made the announcements in his fall economic statement, delivered in the provincial legislature on Monday afternoon. The changes are to take effect on Jan.1, 2017. First-time homebuyers across Ontario will become eligible for …

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