Bachittar  Saini

Bachittar Saini

Licensed REALTOR®

HomeLife/Miracle Realty Ltd, Brokerage *

Mobile:
416-937-5000
Office:
905-455-5100
Email Me
Bachittar  Saini

Bachittar Saini

Licensed REALTOR®

HomeLife/Miracle Realty Ltd, Brokerage *

Mobile:
416-937-5000
Office:
905-455-5100
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities 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 part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated.
For example, if you purchase a property for $300,000 in Ontario, 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? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

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I am a Toronto-based Real Estate Professional with HomeLife Miracle Really Ltd. I look forward to providing Highest level of service and professionalism .

Whether you are buying or selling Real Estate

Please call me : 416-937-5000

We are Specializing in first time home buyers to personages with multi-million dollar estate needs. Whether it’s helping to secure a first mortgage, finding a cozy condo or that perfect estate, We are committed to providing a comprehensive service that results in client satisfaction.

Our priority in putting clients first has built a strong reputation as the GO TO leading authority on buying and selling in the Greater Toronto Area. Quality full service paired with efficiency, connections and absolute commitment are the cornerstones of my expertise.

We have earned the trust and respect of many clients & associates across the Greater Toronto & Niagara Region Area and continue to be passionate in fostering these relationships.


 

 



Specialty:

Residential and Commercial...



Area Covered: GTA - Niagara Region