Land Transfer Tax is a Provincial Tax payable when submitting a deed or transfer for registration under the Registry or Land Titles System. This applies to all property...Land, Detached or Semi-Detached Homes, Townhomes & Condominiums. The following table relates to non GTA properties, for example homes in Georgetown, Acton, Erin, Halton Hills, Norval, Ballinafad, Hillsburg, Rockwood, Guelph and anywhere. There are exceptions but for our purposes the following is what is used.
LTT Calculating Guideline
|
Formula
|
Rate |
| 1st $55,000 of House Value |
1/2 % |
| $55,001 - $250,000 |
1.0% |
| $250,001 - $400,000 |
1.5% |
| $400,001 PLUS |
2.0% |
| Total (Add all Groups) |
|
If Property is in the City of Toronto, you also need to add MLTT (Municipal Land Transfer Tax) in addition to the Provincial Land Transfer Tax.
MLTT Calculting Guideline
|
Formula
|
Rate |
| 1st $55,000 of House Value |
1/2 % |
| $55,001 - $400,000 |
1.0% |
| $400,001 PLUS |
2.0% |
| |
|
| Total (Add all Groups) |
|
** Please note that single family residential and duplexes are subject to a surcharge over $400,000. This is shown above.
Also note that the above calculations are subject to Canadian Residents. For other situations please contact your REALTOR® or lawyer for information.
If you want more information on Land Transfer Tax go to the Government of Ontario link. Click here.
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