How to calculate the Land Transfer Tax in the Province of Ontario.
All prices are in Canadian Dollars
Land Transfer Tax for the Province of Ontario
(for example purposes only. For
exact amounts please contact your solicitor)
For residential properties
|
Purchase Price
|
Calculation of Land Transfer Tax
|
0 to $55,000
|
Amount x .005
|
$55,001 to $250,000
|
(Amount x .01) minus $275
|
$250,001 to $400,000
|
(Amount x .015) minus $1,525
|
Greater than $400,000
|
(Amount x .02) minus $3,525
|
Examples
Land Transfer Tax = ($50,000 x .005) = $250.00
Land Transfer Tax = ($200,000 x .01) minus $275 = $1,725.00
Land Transfer Tax = ($275,000 x .015) minus $1,525 = $2,600
Land Transfer Tax = ($450,000 x .02) minus $3,525 = $5,475.00
For commercial properties
| Purchase Price |
Calculation of Land Transfer Tax |
0 to $55,000
|
Amount x .005
|
$55,001 to $250,000
|
(Amount x .01) minus 275
|
Greater than $250,000
|
(Amount x .015) minus 1,525
|
Example: Purchase Price = $375,000
Land Transfer Tax = ($375,000 x .015) minus $1,525 = $4,100.00
|
