Land Transfer Tax Details

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 $55,000X 0.5% of total purchase price
From $55,000 to $250,000X 1% of total purchase price
From $250,000 to $400,000X 1.5% of total purchase price
From $400,000 upX 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000X 1% of total purchase price
From $200,000 upX 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000N/A
From $30,000 to $90,000X 0.5% of total purchase price
From $90,000 to $150,000X 1% of total purchase price
From $150,000 upX 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000X 0.5% of total purchase price
From $50,000 to $250,000X 1% of total purchase price
From $250,000 upX 1.5% of total purchase price
Halifax Metro
Rate1.5% on total purchase price
Outside Halifax County
RateCheck with local municipality.