Ontario Land Transfer Tax
The following information should help you to calculate land transfer tax in Ontario. Please remember we provide this for informational purposes only and we recommend that you speak with a professional (i.e. your lawyer or banker).
To calculate the total Ontario Land Transfer Tax for residential properties, add the following together:
0.5% on the first $55,000 of the purchase price
1.0% of the purchase price from $55,000 to $250,000
1.5% of the purchase price in excess of $250,001 to $400,000
2.0% of the purchase price in excess of $400,000
OR use the following table:
|
Purchase Price
|
Calculation of Land Transfer Tax
|
| $ 0 - 55,000 |
.005 x purchase amount |
| 55,001 - 250,000 |
(.01 x purchase amount) minus $275 |
| 250,001 - 400,000 |
(.015 x purchase amount) minus $1,525 |
| 400,000 + |
(.02 x purchase amount) minus $3,525 |
|