Land Transfer Tax
Land Transfer Tax is a term applicable to any purchase of property in the GTA. Simply, the Land Transfer Tax is the tax paid for the certain piece of property and must be switched to the name of the right owner. The buyer must add the Land Transfer Tax into their final closing costs and is the sole responsibility of the buyer’s side.
The List Below Provides the Land Transfer Tax for Applicable Provinces:
Ontario
- -Up to $55,000 X .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
Manitoba
- -$0-$30,000 Not Applicable
- -From $30,000 to $90,000 X .5% of Total Property Value
- -From $90,000 to $150,000 X 1% of Total Property Value
- -From $150,000 up X 1.5% of Total Property Value
Quebec
- -Up to $50,000 X .5% of Total Property Value
- -From $50,000 to $250,000 X 1% of Total Property Value
- -From $250,000 up X 1.5% of Total Property Value
Nova Scotia (Halifax)
- -1.5% on Total Property Value
- -Outside of Halifax Varies by Municipality
British Columbia
- -Up to $200,000 X 1% of Total Property Value
- -From $200,000 up X 2% of Total Property Value