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Land Transfer Tax Calculator

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First Time Home Buyers Ontario Land Transfer Tax Credit (up to $4000)

Calculating Land Transfer Tax

Effective April 21, 2017, a 15% Non-Resident Speculation Tax is imposed on the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe by individuals who are not citizens or permanent residents of Canada or by foreign corporations (foreign entities) or taxable trustees. This new tax is in addition to Ontario’s current Land Transfer Tax.


This page provides general guidelines on the calculation of land transfer tax payable on every registration and disposition of land in Ontario.

The information on this page does not replace the law found in the Land Transfer Tax Act (Act) and related regulations.

Introduction

Land transfer tax is payable on every conveyance of land tendered for registration and every unregistered disposition of a beneficial interest in land, unless specifically exempt under the Act or regulations.

The definition of land as defined in subsection 1(1) of the Act is broad and includes lands, buildings, structures, structures to be constructed, fixtures and any interest in these.

Land transfer tax is calculated on the value of the consideration as defined in subsection 1(1) of the Act. It includes the purchase price, liabilities assumed, benefits conferred, soft costs and the cost of upgrades. In some instances, the value of the consideration is deemed to be the fair market value of the land. For example, leases with terms that can exceed fifty years and certain transfers between corporations and shareholders.

For the definitions of value of the consideration and land, please see Definitions or the Act.

Vacant lot with a construction contract

Where a construction contract is entered into as part of the arrangement relating to the purchase of a vacant lot or lots, the value of the consideration is calculated on the:

  • total cost of the lot, plus
  • cost of construction contract.

Value of consideration in foreign currency

All monies must be expressed in Canadian dollars. The land transfer tax statements must set out the value of the consideration in Canadian dollars. The date of currency conversion should be the:

  • date that the agreement of purchase and sale is accepted and becomes a binding contract, or
  • date of registration if there is no written agreement.

Tax rates

Effective January 1, 2017, the tax rates for land transfer tax will depend on the date of the agreement of purchase and sale.

If an agreement of purchase and sale is entered into after November 14, 2016, and registration or the disposition occurs on or after January 1, 2017, the tax rates on the value of the consideration 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%.

For the definition of single family residence, see Definitions or the Act.

Transitional tax rates

The following rates of land transfer tax apply to all registrations and dispositions that occur prior to January 1, 2017. Tax is calculated on the value of the consideration at the following rates:

  • 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: 1.5%
  • amounts exceeding $400,000, where the land contains one or two single family residences: 2.0%.

For transfers with agreements of purchase and sale that were entered into on or before November 14, 2016, the above rates will apply regardless of the date of registration or disposition.

Toronto Land transfer tax

If purchasing a home in Toronto, there is an additional municipal land transfer tax. Toronto’s land transfer tax applies within the following boundaries: Steeles Avenue as the North border, Etobicoke as the West border, Scarborough as the East border and Lake Ontario as the South border.

Purchase Price of Home Marginal Tax Rate
First $55,000 0.5%
$55,000.01 to $250,000.00 1.0%
$250,000.01 to $400,000.00 1.5%
$400,000.01 to $2,000,000.00 2.0%
Over $2,000,000 2.5%

Toronto first-time homebuyer land transfer tax rebate

First-time homebuyers in Toronto of new and resale homes are eligible to receive a rebate up to a maximum of $4,475.

Eligibility

  • The buyer must be a Canadian citizen or permanent resident of Canada
  • The buyer must be older than 18 years
  • The buyer must occupy the home within nine months of purchase
  • The buyer cannot have owned a home anywhere in the world
  • The buyer’s spouse cannot have owned a home while being your spouse

British Columbia land transfer tax

Purchase Price of Home Marginal Tax Rate
First $200,000 1.0%
On $200,001 to $2,000,000 2.0%
Over $2,000,000 3.0%

British Columbia first-time homebuyer land transfer tax rebate

First-time homebuyers are eligible to receive a full land transfer tax refund on homes purchased for up to $475,000. On homes purchased for between $476,001 – $499,999, the first-time homebuyer will be eligible for a partial refund equal to [ ($500K – fair market value) / $25K ] * LTT amount.

Eligibility

You can qualify for the first-time homebuyer land transfer tax rebate if:

  • You are Canadian citizens or permanent residents as determined by Immigration Canada
  • You have lived in British Columbia for 12 consecutive months prior to the date the property is registered or have filed 2 income taxes in British Columbia in the 6 years before the property is registered
  • You have never owned an interest in a principal residence anywhere in the world at anytime
  • You have never received a first-time homebuyers’ exemption or refund

Your property qualifies for the first-time homebuyer land transfer tax rebate if:

  • The fair market value of the property is less than $475,000
  • The land is (0.5) hectares or smaller
  • The property will only be used as your primary residence

For more information, see the Government of British Columbia website.


Alberta land title transfer fees

Alberta does not have a land transfer tax, however, it does charge a title registration fee AND a mortgage registration fee.

Title Registration Fee: There is a base fee of $50 plus an additional $1 charge for every $5,000 of the fair market value of the property (rounded up to the nearest $5,000).

  • You are Canadian citizens or permanent residents as determined by Immigration Canada

Title Registration Fee: There is a base fee of $50 plus an additional $1 charge for every $5,000 of the fair market value of the property (rounded up to the nearest $5,000).

  • $50 + $1 for every $5,000 of the mortgage loan

Saskatchewan land title transfer fees

Though Saskatchewan does not have a land transfer tax, they do have a land title fee. This fee is often paid by your lawyer when they are filling out the land title form on your behalf.

Purchase Price of Home Title transfer fee
$1 – $500 $0
$501 – $8,400 $25
Over $8,401 0.30% of property value

Manitoba land transfer tax

In Manitoba, there is always a $70 registration fee.

Property value Marginal Tax rate
On the first $30,000 No tax
The next $60,000 0.5%
The next $60,000 1.0%
The next $60,000 1.5%
On the remaining amount 2.0%

Quebec land transfer tax

Land transfer tax in Quebec (taxe de bienvenue) is different outside of Montreal. The tax is collected and calculated at the municipal level. The base amount (i.e. the value of the property) used in the calculation is first determined to be the greater of:

  • The purchase price of the property
  • The amount listed on the Deed of Sale
  • The market value of the property determined by a municipal assessment roll increased by a comparative factor

Once the base amount is determined, land transfer tax in Quebec is then governed by the following scale:

Value of property Marginal Tax Rate
The first $50,000 ($0 to $50,000) 0.5%
On the next $200,000 ($50,001 to $250,000) 1.0%
On the amount over $250,000 1.5%

Montreal land transfer tax

The calculation for land transfer tax in Montreal is a little different than the rest of Quebec. The base amount (i.e. the value of the property) that is used in the calculation is determined to be the greater of:

  • The purchase price of the property
  • The amount listed on the Deed of Sale
  • The market value of the property determined by the Montreal assessment roll increased by a comparative factor*

*This is the comparative factor used in the assessment roll

Year of Registration Comparative Factor
2012 1.08
2011 1.00
2010 1.19
2009 1.11
2008 1.06

Calculating the land transfer tax in Montreal, once the value of the property has been determined, is then governed by the following scale:

Value of property Marginal Tax Rate
The first $50,000 ($0 to $50,000) 0.5%
On the next $200,000 ($50,001 to $250,000) 1.0%
On the next $250,000 ($250,001 to $500,000) 1.5%
On the next $500,000 ($500,001 to $999,999) 2.0%
On the amount over $1,000,000 2.5%

New Brunswick Real Property Transfer Tax Act

In New Brunswick, the land transfer tax is currently 1.0% of the assessed value of the property. For example, on a purchase of a house assessed to be worth $100,000, the tax payable is $1,000.


Prince Edward Island land transfer tax

In Prince Edward Island (PEI), land transfer tax (otherswise referred to as Real Property Transfer Tax) is calculated as follows:

  • 1% of the greater of purchase price or property value
  • In cases where the property value is less than $30,000, no transfer tax is charged

Prince Edward Island first-time homebuyer land transfer tax rebate

First-time homebuyers who are purchasing in PEI are exempt from paying land transfer tax under the following circumstances:

  • Property value and purchase prices are below $200,000
  • Individuals are occupying home as primary residence

Also, if there is more than one purchaser, both purchasers must qualify as a first-time homebuyer.


Nova Scotia land transfer tax

Each municipality in Nova Scotia sets their own land transfer tax (also known as Deed Transfer Tax), which can vary from 0.5% to 1.5% of the purchase price. For homes in the Halifax area, the land transfer tax is 1.5%.

For land transfer tax rates outside of the Halifax area, please see the Nova Scotia land transfer tax tables


Northwest Territories land transfer tax16

In the North West Territories, land transfer tax is calculated as a percentage of the property value and mortgage amount as follows:

  • $1.50 for every $1,000 or part therof of property value (subject to a minimum charge of $100)
  • $1 for every $1,000 or part therof of property value (for part of property value greater than $1,000,000)
  • $1 for every $5,000 or part therof of mortgage amount (subject to a minimum charge of $80)

Newfoundland Registration of Deeds Act

In Newfoundland and Labrador, the Registration of Deeds Act, also known as the land transfer tax, is levied on the property value or the mortgage amount as follows:

  • For properties or mortgages under $500, only a flat fee of $100 is charged
  • For properties exceeding $500, a flat fee of $100 is charged plus $0.40 for every hundred dollars over $500

Yukon Territory Land Titles Act

Property value Marginal Tax Rate
First $1,000 $6.00
On $1,000 – $3,000 $7.50
On $3,000 – $5,000 $10.50
For each $1,000 or fraction thereof over $5,000 and up to $10,000 $1.50
For each $1,000 or fraction thereof over $10,000 and up to $25,000 $0.75
For each $1,000 or fraction thereof over $25,000 $0.25

Additional fees may apply.