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Anthony Furey: Now's the time to scrap Toronto's land transfer tax

We hear regularly from politicians concerned about the housing crisis, but none have been willing to give up the revenue — until now

Shortly after becoming mayor of Toronto in 2010, Rob Ford tried to reduce the amount of the city’s municipal land transfer tax (LTT).

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The much-loathed tax placed on the purchase of new homes within city limits had only come into effect a couple years earlier, introduced by then-mayor David Miller. It was a duplicate tax — replicating the Ontario provincial land transfer tax that buyers were already paying.

Anthony Furey: Now's the time to scrap Toronto's land transfer tax Back to video

As a councillor, Ford was often one of the few advocates of fiscal sanity. He’d opposed the tax from Day 1 and, during his successful mayoral campaign, pledged to eliminate the whole darn thing.

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