Elimination of Transfer Taxes For First Time Home Buyers
Elimination of Transfer Taxes For First Time Home Buyers Elimination of transfer taxes for first time home buyers was put on the table during the election campaign by the Parti Quebec. According to the QFREB, (Quebec Federation of Real Estate Boards), the homeownership rate in Quebec (61 per cent) remains considerably lower than the Canadian average (68 per cent), says the association. The Government of Quebec, in 2018, took a first step in this direction by granting a $750 non-refundable tax credit for the purchase of a first home. “There is no question that real estate transfer taxes (known as the welcome tax) are an impediment to...