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Land Transfer Tax


When you a buy a house, condo or land in Ontario you are subject to land transfer tax which is due upon closing. Use RateHub's calculator to determine your applicable land transfer tax or view Ontario's rates below and follow along with our sample calculation.




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When you a buy a house, condo or land in Ontario you are subject to land transfer tax which is due upon closing. Use RateHub's calculator to determine your applicable land transfer tax or view Ontario's rates below and follow along with our sample calculation.


Asking Price




Land Transfer Tax: $0.00
Provincial
$0.00
Municipal
$0.00
Rebate
$0.00
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Provincial:

City:

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For first time home buyers, there is a maximum $4,000 tax rebate on the Ontario land transfer tax and $4,475 tax rebate on the Toronto municipal land transfer tax.

For purchases in the City of Toronto, the Municipal Land Transfer Tax is subject to an admin fee of $75 plus HST. This fee will apply to all transactions in Toronto, including purchases by first-time buyers.

Amended the first-time home buyer rebate program eligibility rules to restrict rebate eligibility to Canadian citizens or permanent residents of Canada.

The new Ontario tax rebate applies to transactions completed on or after March 1, 2017.

The new Ontario tax rates apply to transactions completed on or after January 1, 2017 and the Agreement of Purchase and Sale was entered into after November 14, 2016. For all other transactions and to discuss your land transfer tax eligibility and questions, please contact our office to speak to one of our lawyers.

The Ontario land transfer tax (LTT) is a marginal tax and each portion of your home's value is taxed at a unique rate. These tax rates are as follows:


Purchase price of home Land title transfer fee First-time home buyer rebate
First $55,000 0.5%

The Ontario first-time home buyer rebate covers the full land transfer tax up to a maximum of $2,000. It is only available to first time home buyers.

On $55,000 to $250,000 1.0%
On $250,001 to $400,000 1.5%
On $400,001 to $2,000,000 2.0%
Over $2,000,001 2.5%

If you are purchasing a home in Toronto, it is important to note that an additional Toronto Land Transfer Tax will also apply. Beyond the land transfer tax you will also have to pay closing costs in Ontario when purchasing a home. These closing costs could include fees for an Ontario real estate lawyer and Ontario home inspector.


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