Oct 8, 2015
Land Transfer Tax: Assignments, Flips and Options
Determining the amount of Land Transfer Tax (“LTT”) payable on a routine purchase and sale transaction is not a difficult task. On a more complicated transaction or series of transactions, however, the impact of the Land Transfer Tax Act R.S.O. 1990, c.L.6, as amended (the “Act”) and the resultant LTT may have surprising and unfavourable results for a purchaser.