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
NOTE: You must now check with the city or
municipality in which you are purchasing to see if there is an additional,
local tax.
(for example purposes only. For
exact amounts please contact your solicitor)
If you are a First Time Home Buyer, Check out this page
Reduction
in first home purchase, Land Transfer Tax - 2009
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
|
