Land Transfer Tax

Buyers in most areas will have to add Land Transfer Taxes to their closing costs.

Land transfer taxes are a part of the process unless you live in Alberta, Saskatchewan, or rural Nova Scotia. These taxes, levied on properties that are changing hands, are the responsibility of the buyer. Depending on where you live, taxes can range from a 0.5% to 2.0% of the total value of the property.

Many provinces have multi-tiered taxation systems that can sometimes be difficult to understand. If you buy a property for $260,000 in Ontario, for example, 0.5% is charged on the first $55,000, 1% is charged on $55,000-$250,000, while the $250,000-$400,000 range is taxed at 1.5%. Your total tax bill? $2,375.00.

The following chart illustrates Land Transfer Taxes by province:

    Ontario

  • Up to $55,000 x 0.5% of total property value
  • From $55,000 to $250,000 x 1.0% of total property value
  • From $250,000 to $400,000 x 1.5% of total property value

    British Columbia

  • Up to $200,000 x 1.0% of total property value
  • From $200,000 and up x 2.0% of total property value

    Manitoba

  • Up to $30,000 N/A
  • From $30,000 to $90,000 x 0.5% of total property value
  • From $90,000 to $150,000 x 1.0% of total property value
  • From $150,000 and up x 1.5% of total property value

    Quebec

  • Up to $50,000 x 0.5 % of total property value
  • From $50,000 to $250,000 x 1.0% of total property value
  • From $250,000 and up x 1.5% of total property value

    Nova Scotia

  • Halifax Metro x 1.5% of total property value
  • Outside Halifax County (check with local municipality)