ATTENTION: Toronto Condo Buyers and Investors...

“TAKE 10 SECONDS TO SIGN THIS PETITION AND HELP US SAVE YOU THOUSANDS OF DOLLARS IN TAXES!!!”

(WARNING: What you are about to read may turn your stomach if you’ve bought a condo in Toronto after January 2008 or are planning to buy one soon…)

Dear Neighbours,

..Does it frustrate you

to learn that you’re going to have to pay TWO land transfer taxes on your condo?

..Are you furious

about the fact that no other Canadian jurisdiction has two home buying taxes?

..Is it shocking

to find out that it could ultimately cost almost $15,000 in land transfer taxes for the average buyer?

I know how you feel.

Hi, this is Susan Toughlouian, Toronto’s Condo Queen. If you haven’t heard by now, the Toronto City Council approved a new Municipal Land Transfer Tax effective February 1, 2008 that will be applied to purchases on all properties in the city of Toronto

IN ADDITION

to the Province of Ontario’s Land Transfer Tax.

Help Us Take Action!

Sign the petition below and help us lobby to eliminate this Municipal Land Transfer Tax. As a free bonus, by signing you will automatically receive a link to a free download of my book entitled TORONTO CONDO SECRETS, which has more details about this tax, including how it is calculated, PLUS hundreds of other money-saving tips, tax credits, and information about buying condos in Toronto.

Some Quick Facts About This New Tax

(…and reasons why we should ELIMINATE it!!!)

• Buyers will have to expend more for closing costs this will ultimately reduce their cash flow and overall equity

• Buyers will focus their attention on making purchases outside of the 416 area code in order to avoid the double taxation. The additional tax levy will discourage buying in the downtown core and will create more financial incentive for homebuyers to choose to buy property outside of Toronto’s borders. This will ultimately create more urban sprawl, which will increase traffic congestion and more smog.

• The second land transfer tax represents approx a 33 percent increase in closing costs for Toronto homebuyers. Even a 0.1 percent Toronto land transfer tax would represent almost a 10 percent increase in land transfer taxes on the average home.

• The additional land transfer tax will reduce overall disposable income, and discourage spin off spending from things like furniture, appliances and renovations.

• The second land transfer tax will not create added value or services, if anything, new homeowners will be paying for services that existing residents will benefit from.

• It is already ridiculously expensive to live in Toronto, the average home cost’s approx $378,000. As aforementioned, the new tax will reduce Toronto’s overall affordability, it will be less attractive for homebuyers to want to purchase here, discouraging intensification goals that the City laid out in its official plan.

• On the average it will cost a buyer a total of approximately $15, 000 in total land transfer tax on closing.

• Homes for sale in Toronto, namely the 416 area code, will be less marketable than the homes outside of the city’s core.- that means less equity in your pocket!

• Toronto will have the highest land transfer tax in Canada, and the second highest tax in North America.

How Your Signature Helps

We will be sending this petition to the Premier of Ontario, all the Party Leaders, The Mayor, and City Councillors. Thank you in advance for your help.

If you have any questions, please feel free to contact me directly.

Susan Toughlouian

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