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 $55,000 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 Halifax County

Check with local municipality.

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