LAND TRANSFER TAX

When purchasing a property anywhere in Canada with the exception of excluding Alberta and Saskatchewan, you are subject to land transfer tax.

The tax is normally calculated as a percentage of the property value and can be quite significant, especially on higher-priced properties. Land transfer taxes are often a forgotten cost of purchasing a property. 

How is this calculated?

• The amount paid will depend on the purchase price of your property based on provincial tax and municipal tax. 
• A rebate may be available for first-time home buyers.
• You will be required to have the funds available at the time of closing with your real estate lawyer.

Ontario land transfer tax rates were last updated in 2017. This change introduced a $2 million tax bracket but left the marginal rates and cutoffs for the lowest four price brackets unchanged. A non-resident speculation tax of 15% was also added for the Greater Golden Horseshoe Region.  

Ontario Land Transfer Tax Provincial Land Transfer Tax (PLTT) 

• 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 

The City of Toronto levies an additional LTT on Toronto real estate in addition to the provincial rate.  Toronto Land Transfer Tax Municipal Land Transfer Tax (MLTT) 

• Up to and including $55,000.00 X 0.5% of total property value 
• From $55,000.01 to $400,000.00 X 1% of total property value 
• Over $400,000.00 X 2% of total property value  

Land Transfer Tax Rebates: First Time Home Buyers If you are a first time home buyer you are eligible for rebates for both the Municipal and Provincial Land Transfer Tax  Municipal Land Transfer Tax (MLTT): Maximum $3725 Provincial Land Transfer Tax (PLTT): Maximum $2000

Check out the Land Transfer Tax Calculator below!

*The information above is subject to change without notice*

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