Bill McLean Shannon McLeanSales RepresentativesWebsite sellingwithbillcomPhone © 2024© 2024© 2024Fax © 2024© 2024© 2024Email billmcleantrebnetcomLand 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 multitiered taxation systems that can prove complicated If you purchase a property for © 2024© 2024 in Ontario for example 5 per cent is charged on the first © 20240 1 per cent is charged on © 20240 © 2024© 2024 while the © 2024© 2024 © 2024© 2024 range is taxed at © 2024 per cent Your total tax bill © 2024© 2024
The following list shows Land Transfer Taxes by province
Ontario
Land Transfer Tax
Up to © 20240 X 5 of total property value
From © 20240 to © 2024© 2024 X 1 of total property value
From © 2024© 2024 to © 2024© 2024 X © 2024 of total property value
From © 2024© 2024 up X 2 of total property value
British Columbia
Property Purchase Tax
Up to © 2024© 2024 X 1 of total property value
From © 2024© 2024 up X 2 of total property value
Manitoba
Land Transfer Tax
Up to © 20240 NA
From © 20240 to © 20240 X 5 of total property value
From © 20240 to © 2024© 2024 X 1 of total property value
From © 2024© 2024 up X © 2024 of total property value
Quebec
Transfer Tax
Up to © 20240 X 5 of total property value
From © 20240 to © 2024© 2024 X 1 of total property value
From © 2024© 2024 up X © 2024 of total property value
Nova Scotia
Land Transfer Tax
Halifax Metro
© 2024 per cent on total property value
Outside Halifax County
Check with local municipality