Land Transfer Calculations

Ontario Land Transfer Tax Calculator

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Land Transfer Calculations

In Ontario, Land Transfer Tax is payable by the purchaser of property whenever title to a property is transferred. While exemptions to the tax can apply to certain circumstances, Land   Transfer Tax must be addressed in all real estate transactions. The amount of Land Transfer Tax payable is based upon the total consideration provided for the property.

Traditionally, single  family residential properties in Ontario are subject to Land Transfer Tax based upon the following formula:

  • 0.5% of the first $55,000 of the purchase price
  • 1.0% of the portion of the purchase price from $55,000.01 to $250,000
  • 1.5% of the portion of the purchase price from $250,000.01 to $400,000
  • 2.0% of the portion of the purchase price above $400,000
Effective February 1, 2008, the City of Toronto has implemented a municipal element of Land Transfer Tax wherein additional tax is payable to the City whenever a property is transferred. This additional tax for single family residential properties in Toronto is based upon the following formula:

  • 0.5% of the first $55,000 of the purchase price
  • 1.0% of the portion of the purchase price from $55,000.01 to $400,000
  • 2.0% of the portion of the purchase price above $400,000

Other municipalities throughout Ontario may implement an additional municipal tax element to Land Transfer Tax. Please feel free to contact our office to make a determination of the total Land Transfer Tax that will be due in your circumstance.

DISCLAIMER: The information provided above of a general nature for informational purposes only, we highly recommend that every buyer or seller consult a Tax Lawyer or Chartered Accountant prior to selling or purchasing a recreational property to have a clear understanding of how tax laws may effect them.