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Land Transfer Tax

   Land Transfer Tax

   As mentioned in the residential costs section, this is one of the largest costs in buying a home.. other than the deposit and the mortgage.

   This tax is payable at the time of closing and these rates apply to residential resale only. Use one of the following methods.

   The simple calculation is as follows:

    For a property under $55,000, the tax is $5.00 per thousand
    From $55,000 to $250,000, it is $10.00 per thousand, less $275.00
    From $250,000 to $400,000, it is $15.00 per thousand, less $1,525.00
    For a home/duplex over $400,000 it is $20.00 per thousand, less $3,525.00

Purchase
Price
Calculation
of LTT
$0-55,000 .005 x Price
$55,001-250,000 (.01 x Amount) minus $275
$250,000-400,000 (.015 x Amount) minus $1525
> $400,000 (.02 x Amount) minus $3525

   The following numbers are for reference guide only.
   Your individual land transfer tax calculation should be calculated and verified by your solicitor
   The following chart is based on the Land Transfer Tax (LTT) levied by the Province of Ontario as of May 1996.
   Please note the Provincial Government does amend the LTT from time to time

Purchase
Price

of Home
Land
Transfer

Tax
Purchase
Price

of Home
Land
Transfer

Tax
$55,000 $275 $235,000 $2,075
$60,000 $325 $240,000 $2,125
$65,000 $375 $245,000 $2,175
$70,000 $425 $250,000 $2,225
$75,000 $475 $255,000 $2,300
$80,000 $525 $260,000 $2,375
$85,000 $275 $265,000 $2,450
$90,000 $625 $270,000 $2,525
$95,000 $675 $275,000 $2,600
$100,000 $725 $280,000 $2,675
$105,000 $775 $285,000 $2,750
$110,000 $825 $290,000 $2,825
$115,000 $875 $295,000 $2,900
$120,000 $925 $300,000 $2,975
$125,000 $975 $305,000 $3,050
$130,000 $1,025 $310,000 $3,125
$135,000 $1,075 $315,000 $3,200
$140,000 $1,125 $320,000 $3,275
$145,000 $1,175 $325,000 $3,350
$150,000 $1,225 $330,000 $3,425
$155,000 $1,275 $335,000 $3,500
$160,000 $1,325 $340,000 $3,575
$165,000 $1,375 $345,000 $3,650
$170,000 $1,425 $350,000 $3,725
$175,000 $1,475 $400,000 $4,475
$180,000 $1,525 $450,000 $5,475
$185,000 $1,575 $500,000 $6,475
$190,000 $1,625 $550,000 $7,475
$195,000 $1,675 $600,000 $8,475
$200,000 $1,725 $650,000 $9,475
$205,000 $1,775 $700,000 $10,475
$210,000 $1,825 $750,000 $11,475
$215,000 $1,875 $800,000 $12,475
$220,000 $1,925 $850,000 $13,475
$225,000 $1,975 $900,000 $14,475
$230,000 $2,025 $950,000 $15,475

 

Note to users: Although we try to ensure accuracy of information, it is not guaranteed, and we advise you to confirm all information with your solicitor.

 

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