Land Transfer Tax

Purchasers in most large Canadian centres can add Land Transfer Taxes to their list of closing costs.

Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.

Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.
The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax
Up to $55,000 X .5 % of total property value
From $55,000 to $250,000 X 1 % of total property value
From $250,000 to $400,000 X 1.5 % of total property value
From $400,000 up X 2 % of total property value

Land Transfer Tax Calculator

Use the form below to calculate the amount of land transfer tax you will have to pay.  Land transfer tax is applied on the sale price only.

Purchase Price: $ - I am a first time home buyer - I am purchasing a property located in Toronto Total Land Transfer Tax: $

Ontario Land Transfer Tax Explained

Ontario Land Transfer Tax 0.5% - on the first $55,000 1.0% - on portion between $55,000 - $250,000 1.5% - on balance over $250,000 2.0% - on anything over $400,000 Qualifying first time buyers receive a $2000 credit

Toronto Land Transfer Tax 0.5% - on the first $55,000 1.0% - on portion between $55,000 - $400,000 2.0% - on anything over $400,000 First time buyers are exempt on the first $400,000