I need to add the Land Transfer Tax and Municipal Land Transfer Tax. How do I do this?

If the property is located in the Province of Ontario and in the City of Toronto, the Land Transfer Tax and Municipal Land Transfer Tax will be added to the Trust Ledger. Prolegis provides a notice of the potential applicability of rebates to those taxes.

Where applicable, the LTT and MLTT are automatically calculated and added to the Trust Ledger.

In Actions > Seller/Buyer, the conveyancer can indicate on a per Buyer basis whether the rebate for LTT and/or the MLTT will apply.

To indicate that the rebate will apply, click on the buyer. Scroll down to the “Apply land transfer tax rebate?” and select “Yes”.

If there is more than one owner, the conveyancer will need to select the ownership share for each buyer, and indicate for each buyer whether the land transfer tax rebate will apply.

Once the changes are saved, the Trust Ledger will automatically be updated to show the LTT / MLTT rebates. Where there is more than one buyer, the rebate that applies to each buyer will be shown.

The LTT / MLTT net of rebates is available for inclusion into documents within Prolegis.