Land Transfer Tax

You pay Land Transfer Tax when you buy a property or land in Ontario, which is due when the transaction closes. If you are buying a property or land in Toronto, you also pay a Municipal Land Transfer Tax and Administration Fee.

The tax rates calculated on the value of the consideration of the land or property are:

-0.5% on the first $55,000.00 of the purchase price plus

-1.0% on the amount exceeding $55,000.00 up to and including $250,000.00 plus

-1.5% on the amount exceeding $250,000.00 up to and including $400,000.00 plus

-2.0% on the amount exceeding $400,000.00 up to and including $2,000,000.00 plus

-2.5% above $2,000,000.00

First time home buyers may, subject to certain exceptions, receive up to a $4,000 rebate. For example, land transfer tax on a $500,000.00 home in Milton, Ontario is $6,475. For elgible first time home buyers, a $4,000 rebate will apply, so the final amount of Land Transfer Tax payable will be $2,475.

You can use the following land transfer tax calculator to easily find out your land transfer tax amount:

Land Transfer Tax Calculator

Ratehub.ca logo
Disclaimer: This calculator and the above information is provided for general informational purposes only, and is not intended to represent the definitive opinion of Helix Law and Basil Khan as to the taxes that may be applicable for your particular matter(s). Helix Law and Basil Khan do not guarantee the accuracy of the calculator and the rates above, which are subject to change by the appropriate government body. Helix Law and Basil Khan strongly recommend obtaining the appropriate professional advice and assistance. Please see Helix Law's Disclaimer for further information about the Terms of Use of this website.
Contact Now