The LAND TRANSFER TAX WORKSHEET is outlined below. Please note that if you are in the Municipality of Toronto there is also the MLTT to be added.
| FORMULA |
RATE |
FACTOR |
AMOUNT |
| 1st $55,000 of House Value |
0.5% |
x (.005) |
$______ |
| $55,001 - $250,000 |
1.0% |
x (.01) |
$______ |
| $250,001 - $400,000 |
1.5% |
x (.015) |
$______ |
| $400,001 PLUS |
2.0% |
x (.02) |
$______ |
| TOTAL |
|
|
$______ |
If Property Is In The City of TORONTO You Also Need To Add MLTT
(Municipal Land Transfer Tax) In Addition To Provincial Land Transfer Tax.
| FORMULA |
RATE |
FACTOR |
AMOUNT |
| 1st $55,000 of House Value |
0.5% |
x (.005) |
$______ |
| $55,001 - $400,000 |
1.0% |
x (.01) |
$______ |
| $400,001 PLUS |
2.0% |
x (.02) |
$______ |
| TOTAL |
|
|
$______ |
** 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.
Should you want this worksheet e-mailed or faxed to you just Click Here to send me a request.
Deborah Gilmore...Your Trusted Source For Anything Real Estate!
