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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, 0.5 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.


ONTARIO Land Transfer Tax

Up to $55,000 X 0.5 % 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

First time buyers receive a rebate of $2,000


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





VITA LI VIGNI, SALES REP    |  Dir: 416-662-2945  |  Off: 905-695-7888   |

Monday April the 22nd, 2019 
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