Land Transfer Tax Calculator
How Much Is Land Transfer Tax?
Enter your purchase price and see exactly what you owe in Ontario land transfer tax. If you're buying in Toronto, the municipal tax is added automatically. First-time buyer rebates are applied when they qualify.
$800,000.00
Total Land Transfer Tax
$12,475
Ontario LTT Breakdown
LTT is paid on your closing date, not at the time of offer. Your lawyer will collect it along with other closing costs.
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Toronto, Ontario.
Ontario land transfer tax is calculated based on the property value. The first $55,000 is taxed at 0.5%, then $55,000 to $250,000 at 1%, the portion up to $400,000 at 1.5%, and the remaining balance up to $2,000,000 at 2%. Since January 1, 2017, any amount above $2,000,000 is taxed at 2.5%.
If your property is in Toronto, there is an additional municipal land transfer tax (MLTT) on top of the provincial one. Toronto is the only municipality in Ontario that charges this second tax. The brackets mirror the provincial rates but are calculated separately.
Ontario offers a rebate of up to $4,000 for first-time home buyers, which fully covers the provincial tax on properties up to $368,333. Toronto also offers a rebate of up to $4,475 for first-time buyers, fully covering the municipal tax on properties up to $400,000. You must be a Canadian citizen or permanent resident and occupy the property within nine months to qualify for the Toronto rebate.
The calculator above does all the number crunching for you. Select your location, check the first-time buyer box if it applies, and you will see the exact breakdown by bracket.
