How is land transfer tax calculated in Ontario?

Ontario land transfer tax uses a tiered rate: 0.5% on the first $55,000, 1.0% on $55,001 to $250,000, 1.5% on $250,001 to $400,000, 2.0% on $400,001 to $2,000,000, and 2.5% on amounts over $2,000,000. Toronto adds an additional municipal land transfer tax at similar rates.

Does Toronto have an additional land transfer tax?

Yes, Toronto is the only city in Ontario that charges a Municipal Land Transfer Tax in addition to the provincial tax. This effectively doubles the land transfer tax for properties purchased within the City of Toronto boundaries.

Are there land transfer tax rebates for first-time buyers?

Yes, Ontario offers a first-time homebuyer rebate of up to $4,000 on provincial land transfer tax. Toronto also offers a municipal first-time buyer rebate of up to $4,475. These rebates can save first-time buyers significant closing costs.

Land Transfer Tax Calculator - Ontario Provincial and Toronto Municipal Tax

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Land Transfer Tax Calculator - Ontario

Calculate Ontario land transfer tax including Toronto's municipal tax. Accurate estimates for all Ontario cities and provinces across Canada.