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 HalifaxCounty |
| Check with local municipality. |
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.