click to enable zoom
Loading Maps
We didn't find any results
open map
View Roadmap Satellite Hybrid Terrain My Location Fullscreen Prev Next
Advanced Search

CAD $ 0 to CAD $ 50.000.000

We found 0 results. Do you want to load the results now ?
Advanced Search

CAD $ 0 to CAD $ 50.000.000

we found 0 results
Your search results

Land Transfer Tax

Example Ontario land transfer tax calculation

Land transfer tax (LTT) is often overlooked when considering the total cost of purchasing a home. All provinces have a land transfer tax, except Alberta and Saskatchewan, who instead levy a much smaller transfer fee. To see how land transfer tax is calculated on a home purchased in Ontario, watch the video below.

In most provinces the tax is calculated as a % of property value, using asking price as a close estimate. Homebuyers in Toronto, however, also incur an additional municipal tax. To help offset the unwelcome cost, Ontario, British Columbia, Prince Edward Island and the City of Toronto offer land transfer tax rebates for first-time homebuyers.

The Ontario land transfer tax (LTT) is a marginal tax and each portion of your home’s value is taxed at a unique rate. These tax rates are as follows:

Purchase Price of Home Land Transfer Title Fee
First $55,000 0.5%
On $55,000 to $250,000 1.0%
On $250,000 to $400,000 1.5%
Over $400,001 2.0%

If you are purchasing a home in Toronto, it is important to note that an additional Toronto Land Transfer Tax will also apply. Beyond the land transfer tax you will also have to pay closing costs in Ontario when purchasing a home. These closing costs could include fees for an Ontario real estate lawyer and Ontario home inspector. Ontario land transfer tax rebate in Ontario

Ontario Land Transfer Tax Calculator

Mortgage calculator by ratehub.ca

For first time home buyers, there is a maximum $2,000 tax rebate on the Ontario land transfer tax. Based on Ontario’s land transfer tax rates, this rebate will cover the full tax for homes worth up to $227,500. For homes worth more than $227,500, buyers will only receive the full $2,000 rebate.

For Example:

Purchase price of home Land title transfer tax First-time home buyer rebate Net tax payable
$100,000 $725 $725 $0
$200,000 $1,725 $1,725 $0
$227,500 $2,000 $2,000 $0
$600,000 $8,475 $2,000 $6,475

First-time home buyer eligibility in Ontario

  • You must be 18 years or older.
  • You must occupy the home within 9 months of purchase.
  • You cannot have owned a home or interest in a home anywhere in the world.
  • Your spouse cannot have owned a home while being your spouse (but may be a previous home owner).
  • If the home is newly constructed, it must be eligible for home warranty.
  • Home buyers must apply for the refund within 18 months of purchase.

ApplicationTaxpayers can claim an immediate refund when registering the land transfer papers and paying their taxes. Tax rebate application forms are available online for home buyers registering electronically or on paper at government offices.If the rebate is not claimed at the time of registration, the full tax is paid and a refund claim can be made to the Ministry of Finance within 18 months. Information required for the application include:

  • A completed Ontario Land Transfer Tax Refund Affidavit for First-Time Purchasers of Eligible homes.
  • A copy of the registered land transfer deed.
  • A copy of the agreement of purchase and sale
  • A copy of a document that provides proof of residence, such as a driver’s license, telephone/cable bills, etc.
Calculate Your Mortgage Payment
Our mortgage payment calculator calculates your monthly payment and shows you the corresponding amortization schedule. If you are purchasing a home, our payment calculator allows you to test down payment and amortization scenarios, and compare variable and fixed mortgage rates.
Mortgage Affordability Calculator
When shopping for a new home, the first step is to figure out how much you can afford. Affordability is based on the household income of the applicants purchasing the house, the personal monthly expenses of those applicants (car payments, credit expenses, etc.), and the expenses associated with owning a home (property taxes, condo fees, and heating costs).
Mortgage Rates
Compare bank mortgage rates below and observe how they stack up against the best mortgage rates in the market. Whether you are considering using a bank or broker, a variable or fixed mortgage rate, from one to a ten year term, RateHub.ca sources the best mortgage rates for every category and type of lender. RateHub.ca is also a neutral source, neither a lender nor a broker, so we are able to provide you with unbiased guidance and education on obtaining the best mortgage to suit your needs..