Definition : Transfer tax (Welcome tax)

Amount of money collected from the buyer by a local municipality upon the transfer of an immovable, new or already existing, subject to exemptions provided by law. These transfer taxes, commonly known as the "taxe de Bienvenue", were introduced in 1976 by the Minister of Municipal Affairs, Guy Tardif. An "urban legend" falsely attributes the fatherhood of this tax to Liberal Minister Jean Bienvenue.