Ontario land transfer tax calculator

Ontario land transfer tax uses marginal brackets on the purchase price: 0.5% up to $55,000, 1% to $250,000, 1.5% to $400,000, 2% to $2,000,000 and 2.5% above that for one- or two-family homes. Each rate applies only to the portion of the price inside its bracket.

If the property is in the City of Toronto, you pay both the Ontario land transfer tax and Toronto's municipal land transfer tax. Outside Toronto, only the provincial tax applies. Your real estate lawyer calculates and pays both on closing.

Eligible first-time buyers can receive up to $4,000 off the Ontario land transfer tax and, in Toronto, up to $4,475 off the municipal tax. Eligibility rules apply, such as never having owned a home anywhere. Your lawyer can confirm and apply the refund.

No. Ontario's Non-Resident Speculation Tax (NRST) and Toronto's Municipal Non-Resident Speculation Tax (10%) are not included. If any buyer is not a Canadian citizen or permanent resident, confirm the tax that applies with your real estate lawyer before you make an offer.

Land transfer tax is due on closing, when your lawyer registers the transfer of the property. It cannot be added to your mortgage, so budget for it in your closing costs along with legal fees, title insurance and adjustments.