Buyers - Land Transfer Tax

  1. 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, .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

    The following chart 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.

Bradley Mayer-Harman

Bradley Mayer-Harman

REALTOR®
CENTURY 21 Millennium Inc., Brokerage*
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