LAND TRANSFER TAX

Purchasers of real estate in Ontario are subject to a Provincial Land Transfer Tax. 

The amount of tax is a function of the price and use of the property.

ONTARIO LAND TRANSFER TAX

Purchase Price of HomeMarginal Tax Rate
First $55,0000.5%
On $55,000 to $250,0001.0%
On $250,000 to $400,0001.5%
On $400,000 to $200,000,0002.0%
Over $200,000,0002.5%

ONTARIO FIRST-TIME HOME BUYER LAND TRANSFER TAX REBATE

The Ontario land transfer tax rebate is equal to the full value of the land transfer tax up to a maximum of $4,000

Eligibility

  • The buyer must be older than 18 years
  • The buyer must occupy the home within nine months of purchase
  • The buyer cannot have owned a home anywhere in the world
  • The buyer's spouse cannot have owned a home while being your spouse
  • If you are purchasing a new home, it must be eligible for home warranty

Based on Ontario land transfer tax rates, the rebate will cover the fully taxed amount on houses up to $368,300. For houses over $368,300, home buyers will receive the maximum $4,000 rebate. To obtain this refund, you need to apply within 18 months after the purchase of the home. McGillen Keay Cooper can help you receive credit for this rebate when the deal closes.

[top]

OTHER EXEMPTIONS AND DEFERRALS

If you are purchasing farmland you may be eligible for an exemption from the Land Transfer Tax.  If you are purchasing land with a corporation you may be eligible for a deferral or an exemption from the Land Transfer Tax.  The eligibility requirements for these exemptions are very precise, so please contact our offices to determine if they apply to you.

TORONTO LAND TRANSFER TAX

If purchasing a home in Toronto, there is an additional municipal land transfer tax. Toronto's land transfer tax applies within the following boundaries: Steeles Avenue as the North border, Etobicoke as the West border, Scarborough as the East border, and Lake Ontario as the South border.

Purchase Price of HomeMarginal Tax Rate
First $55,0000.5%
On $55,000 to $400,0001.0%
Over $400,0002.0%

TORONTO FIRST-TIME HOME BUYER LAND TRANSFER TAX REBATE

First-time home buyers in Toronto of new and resale homes are eligible to receive a refund up to a maximum of $3,725. There is also a $75.00 processing fee charged by the City of Toronto.

Eligibility

  • The buyer must be older than 18 years
  • The buyer must occupy the home within nine months of purchase
  • The buyer cannot have owned a home anywhere in the world
  • The buyer's spouse cannot have owned a home while being your spouse
  • If you are purchasing a new home, it must be eligible for home warranty

 

[top]

Land Transfer Tax Calculator

Purchasers of real estate in Ontario are subject to a Provincial Land Transfer Tax.

The amount of tax is a function of how expensive the real estate that your are purchasing is.

Use our LTT Calculator to determine your tax liability.

Select your type of transaction



Enter the price of your property

Choose what best describes this transaction




Provincial Land Transfer Taxes

Legal Fees (All Inclusive) $1,132.08 + 5% GST = $1,650


Your Toronto Land Transfer Tax payable will be $0.00


Your Provincial Land Transfer Tax will be $0.00

NOTE: If the home is located in Toronto, ON, you will be subject to a Municipal Land Transfer Tax.


If you have any questions regarding your potential LTT liability or your qualification as a First Time Home Buyer, please contact McGillen Keay Cooper.