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Land Transfer Tax


LAND TRANSFER TAX TABLE

 

The following numbers are for reference guide only, Your individual land transfer tax calculation should be calculated and verified by your solicitor.

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

 

To calculate the total LTT payable for Residential properties, choose one of the following:

1. Add the following together:

Provincial Land Transfer Tax (Ontario)
(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

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 $400,000
plus 2.0% of the amount in excess of $400,000

OR

2. Use the following formula:
(Provincial land transfer tax only)

 

Purchase Price Calculation of LTT
0 - 55,000.005 x Amount
55,001 - 250,000(.01 x Amount) minus 275
250,001 - 400,000(.015 x Amount) minus 1,525
400,000 +(.02 x Amount) minus 3,525

 

If the purchase price falls within this range, then apply formula to purchase price

(e.g. on a $175,000 home (.01 X 175,000) minus 275=LTT

 

First time home buyers of new AND re-sale homes will receive a rebate of the Toronto land transfer tax of up to $3,725 (equivalent to the Toronto land transfer tax payable on a $400,000 property).

Note (Provincial Land Transfer Tax):

First time home buyers of newly constructed and resale homes (only resale homes where agreements of purchase and sale were signed after December 13, 2007) are eligible for a rebate of the provincial land transfer tax (PLTT) up to $2,000 (equivalent to the provincial land transfer tax payable on a $227,500 property).