Land Transfer Tax Explained

Residential Properties

A provincial land transfer tax applies to all properties in Ontario, including Toronto. A separate Toronto land transfer tax applies to Toronto properties only.

First time home buyers of new AND re-sale homes will receive a rebate of the Toronto land transfer tax of up to $4,475 (equivalent to the Toronto land transfer tax payable on a $400,000 property).

NOTE (Provincial Land Transfer Tax): First time home buyers maybe eligible for a rebate of the provincial land transfer tax (PLTT) up to $4,000.

(An easy-to-use calculator and other options for determining the tax are provided under the Mortgages & Calculators Tab).

How's It's Calulcated:

PROVINCIAL LAND TRANSFER TAX

(Applies to all Ontario properties, including Toronto)

0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
plus 2.5% of the amount in excess of $2,000,000

TORONTO LAND TRANSFER TAX

(Applies to Toronto properties only)

0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
plus 2.5% of the amount in excess of $2,000,000