Toronto Real Estate Agents | Jackie Carron Team | Royal LePage etobicoke
Toronto and Etobicoke real estate with special resources. Detailed Toronto community guide with reference information and pictures.
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Land Transfer Tax CalculatorHere is a calculator to help you determine The Ontario Land Transfer Tax is charged by the province when ownership of property is changed. It is normally paid by the purchaser when property is bought. It applies everywhere in the province.But now anyone buying the city of Toronto has to consider possibly paying an additional land transfer tax. We have included this new tax here, so that you can see just how much the city is charging you.
0.5% - on the first $55,000 1.0% - on portion between $55,000 - $250,000 1.5% - on balance over $250,000 2.0% - on anything over $400,000 First time buyers get a $2,000 rebate And the new land transfer tax in TORONTO is as follows: 0.5% - on the first $55,000 1.0% - on portion between $55,000 - $400,000 2.0% - on anything over $400,000 First time buyers are exempt on the first $400,000 Use the form below to calculate the amount of Ontario and Toronto land transfer tax you will have to pay. Land transfer tax is applied on the sale price only and is paid by the buyer. If you are a first-time home buyer, or buying in the City of Toronto, check the appropriate box(es) in the calculator. First-time buyers are normally eligible for substantial rebates of land transfer tax. |
