Land Transfer Tax

land transfer taxes

Land Transfer Tax varies depending on where you live. If you are buying a property in Toronto you will have the Ontario Land Transfer Tax and the Toronto Land Transfer Tax. However, if you're a first time buyer you don't have to sweat yet. First time buyers are exempt from the Toronto Land Transfer Tax on the first $400,000 and qualify for a $2000 tax credit on the Ontario Land Transfer Tax. You can get an estimate on what your Land Transfer Tax adds up to using our Ontario Land Transfer Tax Calculator.

Ontario Land Transfer Tax

  • 0.5% on the first $55,000
  • 1.0% on the portion between $55,000-$250,000
  • 1.5% on the balance over $250,000
  • 2.0% on anything over $400,000

Toronto Land Transfer Tax

  • 0.5% on the first $55,000
  • 1.0% on the portion between $55,000-$400,000
  • 2.0% on anything over $400,000

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