Ontario Land Transfer Tax
Ontario's Land Transfer Tax is a provincial tax payable by the purchaser upon the acquisition of an interest in land by registered conveyance or unregistered disposition. Therefore, if you purchase a property or land you are responsible for paying Land Transfer Tax to the province at the time the transaction closes. If the property you are purchasing is located in Toronto you will also be subject to the Municipal Land Transfer Tax.
How is the Land Transfer Tax Paid?
How is the Land Transfer Tax Calculated?
Land Transfer Act
On transfers of residential real property in Ontario, Land Transfer Tax (LTT) is calculated on the purchase price (less a HST calculation, if the property purchased is a newly built home). The LTT is payable by the purchaser on the purchase price upon registration of a Transfer/Deed of Land in the Ontario Land Registry Office on closing based on the following upward sliding scale:
- 0.5% on the first $55,000 of the purchase price, plus;
- 1.0% on the amount exceeding $55,000 up to and including $250,000, plus;
- 1.5% on the amount exceeding $250,000 up to and including $400,000, plus;
- 2.0% on the amount over $400,000
- (Please note: non-residential properties, such as industrial or commercial real estate, there is no 2% charge since the tax rate is 1.5% for any amount of purchase price over $250,000 regardless of the total price).
NOTE: If you are buying new from the builder, the Land Transfer Tax is calculated on a price which is net of the HST and therefore the Land Transfer Tax will be slightly less for a new home than for a resale home with the same price.
Lorem ipsum dolor sit amet, consectetur
.jpg)
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Leo vel fringilla est ullamcorper eget nulla. Ac felis donec et odio pellentesque diam volutpat commodo. Rutrum quisque non tellus orci ac. Tincidunt arcu non sodales neque sodales ut etiam sit amet. Magna fermentum iaculis eu non diam phasellus. Ullamcorper morbi tincidunt ornare massa eget egestas purus viverra accumsan. Commodo elit at imperdiet dui accumsan. Sapien eget mi proin sed libero enim sed faucibus. Aliquam purus sit amet luctus venenatis lectus magna. Diam quam nulla porttitor massa. Ultricies leo integer malesuada nunc vel. Scelerisque fermentum dui faucibus in ornare. Ullamcorper malesuada proin libero nunc.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Leo vel fringilla est ullamcorper eget nulla.
Lorem ipsum dolor sit amet, consectetur
_2023.jpg)
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Leo vel fringilla est ullamcorper eget nulla. Ac felis donec et odio pellentesque diam volutpat commodo. Rutrum quisque non tellus orci ac. Tincidunt arcu non sodales neque sodales ut etiam sit amet. Magna fermentum iaculis eu non diam phasellus. Ullamcorper morbi tincidunt ornare massa eget egestas purus viverra accumsan. Commodo elit at imperdiet dui accumsan.
Lorem
ipsum
Rutrum quisque
From today's featured list
.png)
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Leo vel fringilla est ullamcorper eget nulla. Ac felis donec et odio pellentesque diam volutpat commodo. Rutrum quisque non tellus orci ac. Tincidunt arcu non sodales neque sodales ut etiam sit amet. Magna fermentum iaculis eu non diam phasellus. Ullamcorper morbi tincidunt ornare massa eget egestas purus viverra accumsan. Commodo elit at imperdiet dui accumsan. Sapien eget mi proin sed libero enim sed faucibus. Aliquam purus sit amet luctus venenatis lectus magna. Diam quam nulla porttitor massa. Ultricies leo integer malesuada nunc vel. Scelerisque fermentum dui faucibus in ornare. Ullamcorper malesuada proin libero nunc.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Leo vel fringilla est ullamcorper eget nulla. Ac felis donec et odio pellentesque diam volutpat commodo. Rutrum quisque non tellus orci ac. Tincidunt arcu non sodales neque sodales ut etiam sit amet. Magna fermentum iaculis eu non diam phasellus. Ullamcorper morbi tincidunt ornare massa eget egestas purus viverra accumsan. Commodo elit at imperdiet dui accumsan.