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Ontario Land Transfer Tax

Ontario Government Land Transfer Tax Costs

 Calculate your Ontario City Land Transfer Tax (based on a purchase of a resale residential home):

On transfers of residential real property in Ontario, Ontario Land Transfer Tax (LTT) is calculated on the purchase price (less a calculation regarding HST, if the property purchased is a newly built home). The Ontario land transfer tax is payable by the purchaser on the purchase price upon registration of a Transfer/Deed of Land in the Ontario Land Registry Office on closing based on the following upward sliding scale:

Effective January 1, 2017, the tax rates for land transfer tax are as follows:

  • amounts up to and including $55,000: 0.5%
  • amounts exceeding $55,000, up to and including $250,000: 1.0%
  • amounts exceeding $250,000, up to and including $400,000: 1.5%
  • amounts exceeding $400,000: 2.0%
  • amounts exceeding $2,000,000, where the land contains one or two single family residences: 2.5%.
 

Example:
The Ontario land transfer tax on a property transferred for $200,000 is calculated as $275.00 on the first $ 55,000 (0.5% = $ 275.00), plus $1,450.00 on the next $145,000 (1.0% = $1,450.00), for a total of $1,725.00.

CALCULATE YOUR ONTARIO LAND TRANSFER TAX: (based on purchase price of a resale residential home. Please note that this calculation is based on a resale property and not on a newly constructed home which typically includes HST in the price; see the notes below if you are buying from a builder.)

NOTE: If you are buying new from the builder, the Ontario Land Transfer Tax is calculated on a price which is net of HST and therefore the Ontario Land Transfer Tax will be slightly less for a new home than for a resale home with the same price.

ALSO, if you are a first time purchaser (buying a resale home ora new home from a builder), you may be eligible for a refund of Ontario Land Transfer Tax ordinarily payable.Check out following link for Ontario Land Transfer Tax Refund Programs:

NOTE: If the property you are buying is in Toronto, South of Steeles between the Western boundary of Etobicoke and the Eastern boundary of Scarborough, you might be required to pay a FURTHER TORONTO LAND TRANSFER TAX.  Checkout the following link for Toronto Land Transfer Tax:

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