Sorin Claudiu Vaduva

Sorin Claudiu Vaduva

Sales Representative

CAPITAL HOMES REALTY INC.

Mobile:
(613) 262-9562
Office:
(613) 744-0356
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.

Latest Blog Post

  • Important 411- info for Landlords and Tenants

    4 days 12 hours old

    Important 411- info for Landlords and Tenants As we all try to cope with the current situation go...ing on in the world it is important now than ever for Landlords and Tenants to work together during these troubled times to help keep people in theirhomes and not create financial instability for both parties.

    [Read More...]

  • Together we can Help!

    2 weeks 1 day old

    Together we can Help! It has been a difficult time for alot of people with these uncertain ti...mes and if you own a small business with employees it can make things difficult and I wanted to be able to help in some way my employees and the people of our community so we teamed up for a way to help both!

    [Read More...]

  • Ottawa Real Estate Update and Important Info for Owners-Renters and more!

    2 weeks 4 days old

    As we have reached a point where there is a lot of uncertainty in the economy and have been getting ...a lot of questions from people and clients on how the Real Estate Market will get effected with the Covid-19 virus situation in Canada and around the world. We want to help and provide some info on what we are seeing so far in the market and how we think things will go moving forward to help answer any questions people may have.

    [Read More...]

  • Wow this one of the nicest kitchens I have seen! 30 Dunlin Ridge for Sale in Barrhaven

    2 weeks 5 days old

    Wow this one of the nicest kitchens I have seen!...

    [Read More...]

View All »

(613) 262-9562

  

(613) 744-0356