Land Tax Transfer

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 Calculator – Residential – Ontario

Buying or Selling a home in Toronto? This website is a quick reference and land transfer tax calculator for real estate consumers. Municipal Land Transfer Tax

www.landtransfertaxcalculator.ca


The following 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.

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