How do I
calculate land transfer tax?
Ontario Land Transfer Tax applies to all Ontario properties including Toronto.
Tax rates on the value of the consideration are:
Percentage
|
Explanation
|
0.5%
|
amounts up to and including
$55,000
|
1.0%
|
amounts exceeding $55,000 up to
and including $250,000
|
1.5%
|
amounts exceeding $250,000 up to and including $400,000
|
2.0%
|
amounts exceeding $400,000 up to and including $2,000,000
|
2.5%
|
amounts exceeding $2,000,000
|
Toronto Land Transfer Tax applies to Toronto properties only (on top of Ontario Land Transfer Tax).
Tax rates on the value of the value of the consideration are:
Percentage
|
Explanation
|
0.5%
|
amounts up
to and including $55,000
|
1.0%
|
amounts
exceeding $55,000 up to and including $400,000
|
1.5%
|
amounts
exceeding $250,000 up to and including $400,000
|
2.0%
|
amounts
exceeding $400,000 up to and including $2,000,000
|
2.5%
|
amounts
exceeding $2,000,000
|
|
|