Ontario Land Transfer Tax Calculator
How to Calculate Ontario Land Transfer Tax?
How you calculate Ontario land transfer tax can get a bit confusing so for simplicity it’s best to use our Land Transfer Tax Ontario Calculator above. If you are moving outside of the Toronto municipality you’ll only have to pay the Provincial fee above.
How to Calculate Toronto Land Transfer Tax?
How you calculate Toronto land transfer tax is by combining both the Municipal and Provincial fees in the calculator above. Use our Land Transfer Tax Toronto Calculator.
Who Pays Ontario Land Transfer Tax?
Toronto and Ontario real estate BUYERS pay Land Transfer Tax. Sellers never have to pay Ontario Land Transfer Tax on the sale of their property. Use our Land Transfer Tax Ontario calculator above.
First-Time buyers may be eligible for the first-time home buyer Land Transfer Tax Rebate in Ontario.
When Do You Pay Ontario Land Transfer Tax?
Ontario Land Transfer Tax is paid on the day of closing.
On a Toronto resale property, the closing date is shortly after the offer has been accepted. This can be a few days or a few weeks.
On a Toronto pre-construction property, the closing date is typically three to four years later when the building is complete. Purchasers will be notified minimum 21 days ahead of the closing date to prepare their closing expenses and other finances.
How Much is Toronto Land Transfer Tax?
In Toronto real estate buyers are hit with both the Land Transfer Tax Ontario (provincial) and Land Transfer Tax Toronto (municipal) payments. You can use the chart below for how to calculate your Toronto land transfer tax, but the calculation gets a bit confusing so for simplicity it’s best to use our Land Transfer Tax Toronto Calculator above.
How Much is Ontario Land Transfer Tax?
In Ontario real estate buyers outside of the Toronto core pay only the Land Transfer Tax Ontario (provincial) payment. You can use the chart below for how to calculate your Toronto land transfer tax, but the calculation gets a bit confusing so for simplicity it’s best to use our Land Transfer Tax Ontario Calculator above.
Ontario Land Transfer Tax Rate 2019:
Up to and including $55,000: 0.5%
$55,000 up to and including $250,000: 1.0%
$250,000 up to and including $400,000: 1.5%
$400,000 to $2,000,000: 2.0%
Over $2,000,000: 2.5%
Toronto Land Transfer Tax Rate 2019:
Up to and including $55,000: 0.5%
$55,000 up to and including $250,000: 1.0%
$250,000 up to and including $400,000: 1.5%
$400,000 to $2,000,000: 2.0%
Over $2,000,000: 2.5%
Calculate what you’ll owe with our 2019 Land Transfer Tax Ontario Calculator above.
Additional First Time Buyer Rebates:
If you’re a first-time buyer, you may also be eligible for the First Time Home Buyer Tax Credit. Visit our First-Time Buyer Rebates page to learn more.
Ontario Land Transfer Tax Exemptions
There’s an exception to every rule and when it comes to family, Ontario may waive your land transfer fee. Instances where you may be exempt from Land Transfer Tax are:
- Land transfers between spouses
- Land transfers from a person to the family business
- Land transfers of farming property between family members