Keenan  Fernandez

Keenan Fernandez

Sales Representative

iPro Realty Ltd., Brokerage

Mobile:
416-567-4484
Office:
905-507-4776
Email Me
Keenan  Fernandez

Keenan Fernandez

Sales Representative

iPro Realty Ltd., Brokerage

Mobile:
416-567-4484
Office:
905-507-4776
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated. For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

 

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"All I can strive to be is the absolute best possible version of myself."


​I’m a Realtor with iProRealty Brokerage serving Mississauga and surrounding areas. I enjoy living in our city and take pride in knowing and serving my neighbours in all their real estate needs. People in this city know they can call on me whether they have a simple real estate question, or need a free market analysis.


I believe that a good realtor should know their community inside and out. I keep abreast of the latest market happenings so that I can answer all your questions – especially the hard ones.


As your realtor, I will go the extra mile in helping you buy a new home or sell your existing home. Your best interests are my # 1 priority. With the backing of the most respected company in the area I can help make your dreams a reality.






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