First-time buyers are now going to be eligible for a rebate of up to $4000 in provincial land transfer tax and they won't pay any land transfer tax on the first $368,000 of a purchase price.  While this is good news for first time buyers, the land-transfer tax rate on the amount of a purchase above $2 million will rise to 2.5 per cent, from the current rate of 2 per cent.  http://www.cbc.ca/news/canada/toronto/ontario-fall-economic-statement-charles-sousa-1.3849873Ontario

Premier Wynne announced on Monday October 31st that Ontario will not follow British Columbia’s move to introduce a tax on foreign homebuyers.  Her focus moving forward will be to help first-time buyers afford homes.  The most recent research shows that Ontario's sales are fueled by domestic investors.   http://www.cbc.ca/news/canada/toronto/foreign-buyers-tax-toronto-real-estate-investors-1.3824467