Do you know your closing costs for Ontario and Toronto Land Transfer Tax ?

Qualifying first time buyers receive up to a $2000 credit

 
If you purchase Real Estate Properties or an interest in real property in Ontario you are required to pay the Provincial Land Transfer Tax (PLTT). If you have purchased a real property or an interest in real property located in Toronto, you are required to pay the Municipal Land Transfer Tax (MLTT) in addition to the PLTT.

Ontario Land Transfer Tax Explained

0.5% - on the first $55,000
1.0% - on portion between $55,000 - $250,000
1.5% - on balance over $250,000
2.0% - on anything over $400,000
Qualifying first time buyers receive up to a $2000 credit

Toronto Land Transfer Tax Explained

0.5% - on the first $55,000
1.0% - on portion between $55,000 - $400,000
2.0% - on anything over $400,000
First time buyers are exempt on the first $400,000

Use the form below to calculate the amount of land transfer tax you will have to pay.  Land transfer tax is applied on the sale price only.

Land Transfer Tax Calculator

Purchase Price:$
I am a first time home buyer
I am purchasing a property located in Toronto

Total Land Transfer Tax:$


Land Transfer Tax Rebates: First Time Home Buyers

If you are a first time home buyer you are eligible for rebates for both the Municipal and Provincial Land Transfer Tax
  • Municipal Land Transfer Tax (MLTT): Maximum $3725
  • Provincial Land Transfer Tax (PLTT): Maximum $2000

Must Read: More Information on Land Transfer Taxes in Ontario and Toronto

Municipal Land Transfer Tax: City of Toronto
Provincial Land Transfer Tax: Ontario Government
Municipal Land Transfer Tax: Ontario Government
Toronto Real Estate Board: Land Transfer Tax Overview

We encourage prospective home buyers to educate themselves on Land Transfer Tax and its intricacies. We recommend that home buyers seek the advise of accountants, licensed Realtor or a real estate lawyer.
 
DISCLAIMER: realestatesnatch.com accepts no responsibility for any loss arising from any use or reliance on the information contained or produced through calculative function herein.

  
  
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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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