Toronto Real Estate Board wants Land Transfer Tax abolished

A recent press release from the Toronto Real Estate Board is calling on Toronto City Council to eliminate the Land Transfer Tax.

Torontonians agree: repeal Land Transfer Tax.

“The Toronto Land Transfer Tax is a job killer: Economic analyses have shown that about 40,000 Toronto jobs rely specifically on the economic activity that is generated when people buy and sell homes in the City,” said Toronto Real Estate Board president Richard Silver in the press release.

Majority of Torontonians agree: repeal Land Transfer Tax

According to the press release, an Ipsos Public Affairs opinion poll found that three quarters of Torontonians agree with repealing the Toronto Land Transfer Tax. When told to consider Toronto’s budget issues, 68 per cent of those polled still said that City Council should go ahead and repeal the Toronto Land Transfer Tax.

“The public spoke loudly and clearly in last year’s municipal election. It is clear that they want change from City Hall and that they want the Toronto Land Transfer Tax gone. We are making sure they the public is aware that now is the time for City Council to take decisive action to improve the City’s finances,” said Silver.

Toronto Real Estate Board: Repeal Land Transfer Tax is a post from: Toronto Real Estate | Toronto MLS Listings | Toronto Homes For Sale