Todd  Tiffin

Todd Tiffin

Sales Representative

Mobile:
705-457-6107
Office:
(705) 457-1011
Email Me
Joel  Taylor

Joel Taylor

Sales Representative

Mobile:
705-854-1311
Office:
(705) 457-1011
Toll Free:
Email Me
Todd  Tiffin

Todd Tiffin

Sales Representative

RE/MAX NORTH COUNTRY REALTY INC., BROKERAGE*

Mobile:
705-457-6107
Office:
(705) 457-1011
Email Me

Land Transfer Tax Details

Land Transfer Tax

In Ontario, Land Transfer Tax is levied on property sales.  The purchaser is respnsible for payment of the Land Transfer Tax.

Ontario has a multi-tiered taxation system that can be complicated. For example, if you purchase a property for $300,000, 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 in Ontario. (Purchasers of property in Toronto are also required to pay Toronto Land Transfer Tax, in addition to Ontario Land Transfer Tax.)

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

 

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