A new study, released in April 2014, conducted by Altus Group Economic Consulting, found a significant loss of economic activity in the City of Toronto, and a corresponding loss of thousands of jobs, due to the Toronto Land Transfer Tax. The study found that between 2008 and 2013, the Toronto Land Transfer Tax is responsible for:
- a loss of $2.3 billion in economic activity
- a reduction of $1.2 billion in GDP
- a loss of 14,934 full time jobs
- a loss of $772 million in wages and salaries
- a loss of 38,278 home transaction
