How to use the Land Transfer Tax Calculator
- 1 Enter the purchase price of the home.
- 2 Choose Ontario, the City of Toronto or British Columbia.
- 3 Choose whether you are a first-time home buyer.
- 4 Read the tax, each part of it, any refund or exemption, and the total to pay on closing.
Worked example
An $800,000 home. Ontario tax is $275 + $1,950 + $2,250 + $8,000 = $12,475. In Toronto the municipal tax is another $12,475, so $24,950 in total, or $16,475 for a first-time buyer after the $4,000 and $4,475 rebates. In British Columbia the tax is $14,000, or $6,000 for a first-time buyer.
Features
Toronto double tax
Ontario land transfer tax plus the Toronto municipal tax, including the luxury tiers above $3 million.
First-time buyer relief
Ontario refund up to $4,000, Toronto rebate up to $4,475 and the BC exemption on homes up to $835,000.
Bracket by bracket
Each band is taxed only on the part of the price within it.
When to use it
Closing cost budget
Land transfer tax is one of the largest closing costs and is paid in cash, not added to the mortgage.
Toronto or the suburbs
Compare buying in Toronto with Mississauga or Vaughan, where only the Ontario tax applies.
First home
See how much the first-time buyer refunds save you.
BC buyers
Check the property transfer tax on a Vancouver or Victoria home.
Frequently asked questions
How is Ontario land transfer tax calculated?
For a home, 0.5% on the first $55,000, 1% from $55,000 to $250,000, 1.5% to $400,000, 2% to $2 million and 2.5% above $2 million, on each slice of the price.
Why is it higher in Toronto?
Toronto charges its own municipal land transfer tax with the same bands up to $3 million and higher luxury rates above that, on top of the Ontario tax.
Who is a first-time buyer?
In Ontario and Toronto, generally someone who has never owned a home anywhere in the world, buying a home they will live in within 9 months. Spouses must not have owned a home while married.
What are the BC rates?
1% on the first $200,000, 2% to $2 million, 3% to $3 million and 5% above $3 million for residential property.
When is it paid?
On closing, usually through your real estate lawyer or notary, so it must be in your closing funds.
Is there land transfer tax in Alberta or Saskatchewan?
Those provinces charge small land title registration fees instead of a percentage land transfer tax.
Does the tax apply to the whole price?
Yes. It is charged on the total value of the consideration, which is normally the purchase price, including any amount you assume such as an existing mortgage.
Results are estimates based on the official rates linked above. Confirm important figures with the issuing authority or a qualified adviser before you act on them.
Reviewed by ToolsUnlocked Team · Last updated