[LAWPRO Alert] Clarifications on implementation of provincial land transfer tax changes
The information in this Alert is dated. Please visit our Always up-to-date LTT and NRST Frequently Asked Questions webpage for the most current information.
[The following is a LAWPRO Alert that LAWPRO sent to all Ontario lawyers with REPCO coverage on April 21, 2017]
This afternoon the Ministry of Finance posted an update that clarifies how previously signed documents will be handled.
The Ministry’s update makes it clear that previously signed documents will remain signed and can be registered “as is” through the transition period. The new LTT statements section will appear on all documents (including previously signed documents) starting Monday, April 24. However, you can choose not to complete that section as you are not required to provide the information in it through the transition period. If you choose to complete it, the approval will be lost and the document will have to be resigned.
Note that the transition period ends at the end of the registration day on Friday, May 5. Documents registered after that point in time will not be accepted unless one of the statements in the new LTT section is selected. You can access the Ministry update here.