Zaid Vania
Sales Representative
zaidvania@rogers.com

RE/MAX Realtron Realty Inc.
Brokerage
Independently owned and operated

209-885 Progress Ave.
Toronto, ON M1H 3G3


Phone: 416-289-3333
Fax: 416-289-4535
Mobile: 416-414-9229
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.

Land Transfer Tax

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax ( go to calculator )
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
BRITISH COLUMBIA

Property Purchase Tax
Up to $200,000 X 1 % of total property value
From $200,000 up X 2 % of total property value

MANITOBA

Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X .5 % of total property value
From $90,000 to $150,000 X 1 % of total property value
From $150,000 up X 1.5 % of total property value

QUEBEC

Transfer Tax
Up to $50,000 X .5 % of total property value
From $50,000 to $250,000 X 1 % of total property value
From $250,000 up X 1.5 % of total property value

NOVASCOTIA

Land Transfer Tax

Halifax Metro

1.5 per cent on total property value

Outside Halifax County

Check with local municipality.


Zaid Vania Sales Representative

RE/MAX Realtron Realty Inc. Brokerage

Independently owned and operated

209-885 Progress Ave., Toronto ON, M1H 3G3

Phone: 416-289-3333

Fax: 416-289-4535

Mobile: 416-414-9229

zaidvania@rogers.com

Real Web Solutions