After 5 months at our new place. Our place is getting a final closing tomorrow.
And this is what pisses me off………. I get NO New Home Buyer Land Transfer Tax refund.
It’s the fact about my condo.
1. Prebuilt building that I put down the downpayment in 2005. ( I haven’t even met Alex yet)
2. I met Alex in year 2007. He already owns his bachelor condo.
3. This condo is solely under my name only. Alex and I have a pre-nup setup that even if I sell the place he can’t take a dip of the profit on either capital gain or the selling price. The mortgage is setup soley under my name too.
4. He renovated the place and rented out his condo after we moved in together to my new condo this year July (July , 2008)
5. We got married on Aug 8, 2008.
Now my real estate lawyer told me that because Alex owns a place, so I am disqualified for New Home Buyer’s rebate. And there goes TWO land transfer taxes for my condo. It adds up to 7000!!!! ARgh!!
The reason being that only one of us can claim the rebate, not both of us. And obviously I am paying two taxes here because STUPID Toronto municipal land transfer tax takes effective February 1st, 2008!
Alex bought his place in 2006 for half of the my condo value, and he only pays ONE ontario tax. Now I have to pay both taxes!!
if you are currently dating someone right now who owns their own place. You got a bit of planning to do for your first place discount.
1. Either sell the place before you both move in together to the new place, or have you or your future husband to transfer out the property and then transfer it back in.
2. I would suggest you get a place first, and then get married!!!
This just sincerely pisses me off. I hope there was someone telling me those before I got married… 
*******UPDATE*************************************
As pissed as I was yesterday, I found this clause on the city of Toronto’s website. It says
You may be eligible for a rebate of the MLTT (Municipal Land Transfer Tax) if either of the following criteria is met:
- Grand-Fathering
The Agreement of Purchase & Sale was executed on or before December 31, 2007 and the closing date is on or after February 1, 2008. In this case you will be eligible for a full rebate.
- First-Time Purchaser
You are a first-time purchaser of a newly constructed or re-sale residential property. The rebate for first-time home purchasers is up to a maximum of $3,725.00.
Oh, I am sure I don’t qualify for option B. However, option A – Grand-Fathering? Sounds like I am a perfect match! I got my purchase of agreement in March, 2005, and the building is closed Dec, 2008.
I called my lawyer to confirm. And yes, I was right! My lawyer had to apologize to me because this clause slip out of her mind. Now at least I don’t have to pay this extra 3K. Money-saving is always a good thing!
17.Dec.08 
life 
Comment (1)
Sandals Royal Bahamian Ocean view taken by a Flickr member - Swantho
Right after we got married, we basically spent all our moola towards the new place and the wedding. Now after few months of saving, we are going to our honeymoon!!
First of all, DO NOT CHEAP OUT on destination. We decided to go to Sandals Bahamas Resort for our honeymoon. Sandals is a 5 star hotel, and NO KIDS AROUND. Yay!
Except we paid the price for the “luxury” resort for like 3K each person!! (*gasp!)
You will probably hear your Hubby tell you “But you know you can stay in this other place for half of the price, and we can use the extra budget to do extra activities!”, DON’T DO IT! Listen to your voice, cuz it’s your only honeymoon!!
Right now being the time that the economy is down, everything is in deep discount. However, we will be going there on Dec 24 to Dec 31. There’s no discount due to the “hot season”. Sigh.
So I guess we’ll use this resort to its fullest. It has 9 different restaurants All-You-Can-Eat-AND-DRINK. (well, you are paying like 500 dollar a day at that place, so OF COURSE you can do whatever you want).
All inclusive activity including scuba diving and snorkeling. (Except you have to pay $70 for the course if you don’t have a PADI license). The only thing about Sandals Bahamas is that it has an offshore island! So you can go there and chill whenever you want. It also has a famous spa called “Red Lane Spa”. I heard it’s the best among the Caribbean island resorts.
You can see the list of Sandals Bahamian amenities here.
I’ll write up a review about the resort after I get back from my honeymoon! (The internet is not included in the price there! gah!!)
Tags: honeymoon, Sandals, Toronto Wedding & Bridal Resources, wedding
08.Dec.08 wedding Comments (2)
I was reading my previous posts… I realize that I didn’t post my wedding itinerary.
Here’s my revised Itinerary, and you can always download Alex and Patty’s Wedding Itinerary and make your own!
| 9:00am to 12pm |
Getting Ready
Getting ready by 12pm and leave by 1pm to get to CityHall for Ceremony (We didn’t get a Limo, but we had our Bestman to rent a van to pick us up.)
*Reality check: There were several people who are getting married before us, and there’s a major delay, so I didn’t get into the Chamber till 3:30 |
| 3:30pm |
Taking photos around CityHall
Around City Hall, Osgoode Hall, University & Queen, In front of Canada life building
*Reality check: Due to the Ceremony delay, we didn’t take the photos around CityHall till 4:30ish.
|
| 4:30pm |
Get ready to go to Old Mill |
| 5:15pm |
Taking photos around Old Mill
*Reality check: Because all the delay before, we didnt’ get to Old Mill till 5:30 to 5:45ish. We end up having a little time to take photos around CityHall. |
| 6:30pm – 7:30pm |
Cocktail Hour
*Reality check: We only had a little time out in the garden taking photos, so we end up taking a lot of indoor photos while guests are having the cocktail hour |
| 7:45pm |
Bridal Party Introductions |
| 8:08pm |
Welcoming & Toast by Best Man |
| 8:10pm |
Dinner is served |
| 8:30pm |
After the appetizer is served, Best Man gives speech again |
| 8:45pm |
After the salad or pre main course meal is served, Maid of Horner gives speech |
| 9:15pm |
After the main course dinner is served, Groom gives speech |
| 9:40pm |
After the last course is served, Bride gives speech |
| 9:45pm |
Dinner Ends |
| 10:00pm |
Center Piece Give Away Game |
| 10:15pm |
Bride and Groom First Dance |
| 10:30pm |
Sweet Table and Cake Cutting
*Reality check: This Sweet table and Cake cutting was really late in my original schedule, and a lot of guests left without having the dessert. So make sure those out EARLY! |
| 10:30pm |
Dance Floor Opens |
| 10:35pm |
Bouquet Toss |
| 10:40pm |
Garter Toss |
| 10:45pm |
Last Dance |
|
Dance till the end of the night! |
Download Alex and Patty’s Wedding Itinerary as your wedding itinerary to get started. You can use this to work with your MC and ask your Maid of Honor to coordinate the event accordingly! Enjoy!
Tags: Toronto Wedding & Bridal Resources, wedding, wedding blog, wedding itinerary
03.Dec.08 wedding Comments (0)
Brides! Here’s a cool company for you to look into wedding favours!
Consider the fact that most guests probably won’t really treasure your wedding favours, so don’t spend too much on it or better yet, make them either edible or useful!
One of my business unit in my company just changed it’s name, so they are promoting the new name using “The designer cookie” with their new name on it. Smart idea! First I thought it was paper on top of the cookies, but NO! it’s edible!!
And the cookies is so tasty as well. Unfortunately I just ate it before I write up this post.
But have a look at The Designer Cookies! you can use print guest name on the cookies, or print your wedding photos on it (no jokes!)
I think the price goes from $3 to 5 bucks. It’s not too bad. Go take a look~
Tags: Toronto Wedding & Bridal Resources, wedding, wedding favour
02.Dec.08 wedding Comments (0)
