The College is Closing

The OREA Real Estate College will cease to operate on December 31, 2020. Find out how the closing will affect admissions and the deadline to complete programs.

2019 course sessions are now available for enrolment

The OREA Real Estate College is pleased to announce the availability of 2019 course sessions for Registration Education courses. Detailed course information is available on the Course Calendar page of the OREA website, or by contacting the College at 416-391-6732 or 866-411-6732.

Log in as a…


Login


Login

We can help

articleimage

May 31, 2018

York region politicians want a new municipal land transfer tax grab on home ownership

OREA AND TREB join forces to say NO to a new $15,000 tax on home buyers

TORONTO, ON, May 31, 2018 – York Region councillors are demanding new tax powers from the province, and they have their eyes set on the municipal land transfer tax (MLTT). If implemented, the tax would add over $15,000 to an average priced York Region home, impacting housing affordability for all home buyers and making the Canadian dream of home ownership less achievable for thousands of young buyers. This could set a dangerous precedent for housing affordability across the wider Greater Toronto Area and the rest of the province.

The Ontario Real Estate Association (OREA) and the Toronto Real Estate Board (TREB) are urging MPP candidates in York Region to say ‘no’ to another tax on home buyers, noting the effects of such a tax will be as detrimental as they have been on Toronto. This tax does nothing to address the real issue facing the GTA housing market: the need for more supply. This sort of tax is also an unreliable revenue source.

“It’s no secret that municipalities across Ontario have been asking the provincial government for new taxing powers,” said Tim Syrianos, President of TREB. “York Region home buyers are already charged a provincial land transfer tax, so by adding a municipal tax, the Region will double the tax burden on local families. If local councillors get their way, home buyers will be forced to pay $15,000 more in land transfer taxes on the average priced home in York Region.”

When the City of Toronto first implemented the MLTT in 2008, home buyers were hit with a big tax increase. Moving from one home to another suddenly became costlier for potential home sellers, by adding thousands of dollars to every transaction. This has caused many home owners to stay put, further limiting supply of the critical missing middle (that fills the gap between single family homes and high rises) housing types in the marketplace.

“We’ve been down this road before, with municipalities asking for new taxing powers and the provincial government considering their requests,” said David Reid, President of OREA. “Each time, Realtors have stood up for young families and opposed a tax. Home buyers need relief, not new taxes. We hope voters in York Region will consider where their local candidates stand on this issue before casting their ballot on June 7th.”

In 2015, Ontario Realtors, home buyers and sellers sent 34,000 letters to provincial policy makers, demanding a stop to the spread of the MLTT outside of Toronto. With the election exactly one week away, Ontario Realtors are urging all provincial and York Region provincial candidates to show their support for Ontario home owners, buyers and sellers by opposing the spread of the MLTT beyond Toronto. They are also asking all Ontarians to email their local candidates urging them to oppose the tax.

Spokesperson Availability:
Media are invited to attend a provincial election debate at the Toronto Congress Centre from 2:30 to 3:15 p.m. on May 31, 2018, hosted by the Toronto Real Estate Board (TREB) and the Ontario Real Estate Association (OREA). The discussion will focus on key real estate, housing and other major election issues that have a significant impact on the Greater Toronto Area.

Following the debate, a news conference will be held jointly by TREB and OREA regarding provincial changes to grant municipalities, including those in the GTA, new taxing powers, such as the imposition of a Municipal Land Transfer Tax in York Region.

TREB MEDIA CONTACT:
Mary Gallagher, Senior Manager Public Affairs
maryg@trebnet.com 416-419-8133

OREA MEDIA CONTACT:
Katarina Markovinovic-Praljak, Head of Communications & Media Relations
katarinam@orea.com 416-445-9910 ext. 615

With more than 49,000 residential and commercial TREB Members to serve consumers in the Greater Toronto Area, TREB is Canada’s largest real estate board. Greater Toronto REALTORS® are passionate about their work, and are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. For your real estate facts and GTA Listings, updated in real time, visit www.TREBHome.com

The Ontario Real Estate Association represents 70,000 brokers and salespeople who are members of the 38 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services.

-30-


For more information contact:

Katarina Markovinovic-Praljak

Head of Communications & Media Relations

katarinam@orea.com


More News & Press Releases

articleimage

Statement from OREA CEO Tim Hudak on repeal of the Green Energy Act

The Ontario Government’s decision to repeal the Green Energy Act has saved home owners thousands of dollars, by putting the brakes on a program that would have forced Ontario home sellers to conduct a mandatory home energy audit before selling their home.

Read More
articleimage

OREA Statement on Federal Government’s Refusal to Allow Provinces the Ability to Ban Home Growth of Cannabis

Ontario Realtors are disappointed the federal government rejected the Senate recommendation that would have allowed provinces to ban home growth of cannabis. Provinces should have the ability to protect home owners and communities from the problems associated with former grow ops. Quebec and Manitoba have committed to standing firm on this issue and the ambiguity in the legislation has opened the door to court challenges. We look forward to working with Premier-Designate Ford to address Realtor concerns and ensure we protect Ontario homes and families.

Read More
articleimage

700,000 Millennials looking to move out of their parents’ basement in the next decade, new research shows

Over the next decade, 700,000 Millennials in the Greater Toronto and Hamilton Area (GTHA) will enter the housing market in search of their first home. According to the report – Millennials in the Greater Toronto and Hamilton Area: A Generation Stuck in Apartments? – released today by Ryerson University’s Centre for Urban Research & Land Development (CUR) and sponsored by the Ontario Real Estate Association (OREA), Millennials will represent the largest source of housing demand in the next ten years.

Read More
Back to News & Press Releases
To MP Survey
OREA Contract