Vibhore  Jaiswal

Vibhore Jaiswal

Sales Representative

HomeLife/Miracle Realty Ltd., Brokerage *

Mobile:
647-821-2858
Email Me
Vibhore  Jaiswal

Vibhore Jaiswal

Sales Representative

HomeLife/Miracle Realty Ltd., Brokerage *

Mobile:
647-821-2858
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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About Me

Whether you’re buying or selling a home (or both), your success hinges upon the expert advice and services provided by your real estate agent.
 
I’m committed to providing my clients with professional services based on my experience, knowledge and skills.
 
I’ve filled this website with tips and resources to help you quickly understand what you need to know — and how I deliver the services designed to meet your needs.
 
If you’re looking to Sell click here for FREE Property Evaluation to learn more about the process and how to ensure your property sells quickly and for the highest price possible.
 
If you’re looking to Buy click here to SEARCH for Houses and Condos available for sale in Toronto, Brampton, Mississauga, North York, Scarborough, Pickering, Ajax and other areas  and discover how to find your next dream home and get it, without overpaying.
 
I’m the agent who specializes in this local market – and has the reputation for putting you, the client, first. Any time you want information on the market or are ready to buy or sell a property – contact me. There’s no obligation.
 
I’m looking forward to learning more about your needs and goals.


Specialty: Residential & Commercial

Area Covered: Toronto, Brampton, Mississauga, North York, Scarborough, Ajax, Pickering, Whitby, Oshawa

Languages Spoken: English, Hindi, Punjabi