Land Transfer Tax Calculator
Don’t let hidden fees surprise you. Get a complete breakdown of Ontario and Toronto land transfer taxes.
Land Transfer Calculator
Accurate estimates for Ontario and Toronto properties.
What is Land Transfer Tax (LTT)?
Land Transfer Tax is a one-time fee paid to the provincial government by the buyer when purchasing land or a home in Ontario. The tax is calculated based on the purchase price of the property and is typically due upon closing.
How is the tax calculated?
The tax is calculated on a sliding scale (tiered). In Ontario, the brackets are:
0.5% on the first $55,000.
1.0% on the amount between $55,000 and $250,000.
1.5% on the amount between $250,000 and $400,000.
2.0% on the amount between $400,000 and $2,000,000.
2.5% on any amount over $2,000,000 (where the land contains one or two single-family residences).
Do I have to pay two taxes if I buy in Toronto?
Yes. If you purchase property within the City of Toronto boundaries, you are required to pay the Provincial Land Transfer Tax (Ontario) as well as an additional Municipal Land Transfer Tax (Toronto). The rates for both are very similar, effectively doubling the tax amount for Toronto buyers.
Who qualifies for the First-Time Home Buyer Rebate?
To qualify for the Ontario and Toronto rebates, you must meet several criteria, including:
You must be at least 18 years old.
You must be a Canadian citizen or permanent resident.
You must occupy the home as your principal residence within nine months of purchase.
Crucially: You cannot have owned a home, or had an interest in a home, anywhere in the world at any time.
How much are the rebates?
Ontario Provincial Rebate: Up to a maximum of $4,000.
Toronto Municipal Rebate: Up to a maximum of $4,475.
When is the tax paid?
The tax is paid at the time the transfer is registered, which is almost always the day of closing. Your real estate lawyer will typically handle the calculation and payment of the tax as part of the closing process.
Can I include the Land Transfer Tax in my mortgage?
No. Land Transfer Tax is considered a “closing cost” and cannot be added to your mortgage loan. You must have these funds available in cash at the time of closing.
Try Our Mortgage Payment Calculator
See what the payments look like. Find out now with our quick and easy Mortgage Payment Calculator!
Some statistics from LendToday
Our team of administrators, underwriters and mortgage agents have been assisting homeowners for years. We do the leg work and heavy lifting to make sure our clients don’t have to. Combined industry experience of 30+ years.
98%
97%
High quality services
Read exclusive articles from our blog
Check out our blog to learn more from our financial experts.
