By: Pat Durant

Land Transfer Tax - How It Is Calculated

Tags: Land Transfer Tax - How It Is Calculated

Ontario Land Transfer Tax
0.5% - first $55,000
1.0% - between $55,000 - $250,000
1.5% - over $250,000
2.0% - over $400,000

Qualifying first time home buyers receive a $2000 credit

Toronto Land Transfer Tax
0.5% - first $55,000
1.0% - between $55,000 - $400,000
2.0% - over $400,000
First time buyers are exempt on the first $400,000