Land Transfer Taxes

Buyers 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 buyer. 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. Ontario has a graduated scale taxation system based on the purchase price of the property.

The following chart illustrates Land Transfer Taxes in Ontario.

ONTARIO Land Transfer Tax Calculator

Up to $55,000 X .5 % of total property value
From $55,001 to $250,000 X 1 % of total property value minus $275
From $250,001 to $400,000 X 1.5 % of total property value minus $1525
From $400,001 up X 2 % of total property value minus $3525