Tags Posts tagged with "Welcome Tax"

Welcome Tax

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The Quebec Federation of Real Estate Boards (QFREB) is calling for the abolition of real estate transfer taxes, commonly called the “welcome tax”, for first-time homebuyers in Quebec.

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In 1992, someone who bought a property in Quebec for $100,000 would have paid $750 in transfer taxes. Today, that same property is worth about $290,000, which translates into $2,850 in transfer taxes.