Monday September the 6th, 2010 
Orest M. Humeniuk
Sales Representative

RE/MAX 2000 Realty Inc.
Brokerage
Independently owned and operated.
1480 St. Clair Ave. W.
Toronto, ON M6E 1C7

 

Sell your property FAST and for TOP DOLLAR!

Call today for a free market evaluation.

Find out what your property is worth.

Our unique systems and advertising are what you’re looking for in the sale and purchase of your property.

We look forward to hearing from you and discussing your real estate needs.

 

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Earn Aeroplan points when you buy or sell

Now when you buy or sell your home or business with me you can earn 500 Aeroplan Points for every $10,000 in home value. You can use your Aeroplan Points for travel, hotel stays, rental cars or other merchandise offered through Aeroplan. More information.

 

 

 
Phone: 416-619-7695  Fax: 416-656-9593
Land Transfer Tax

Purchasers in most large Canadian centres can add Land Transfer Taxes to their list of closing costs.


Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.


Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.

 Land Transfer Tax

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax ( go to calculator )
Up to $55,000 X .5 % of total property value
From $55,000 to $250,000 X 1 % of total property value
From $250,000 to $400,000 X 1.5 % of total property value
From $400,000 up X 2 % of total property value
BRITISH COLUMBIA

Property Purchase Tax
Up to $200,000 X 1 % of total property value
From $200,000 up X 2 % of total property value
MANITOBA

Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X .5 % of total property value
From $90,000 to $150,000 X 1 % of total property value
From $150,000 up X 1.5 % of total property value
QUEBEC

Transfer Tax
Up to $50,000 X .5 % of total property value
From $50,000 to $250,000 X 1 % of total property value
From $250,000 up X 1.5 % of total property value
NOVASCOTIA

Land Transfer Tax
Halifax Metro

1.5 per cent on total property value
Outside Halifax County

Check with local municipality.





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