John R  Miller

John R Miller

Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage*

Mobile:
519.212.6989
Email Me
John R  Miller

John R Miller

Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage*

Mobile:
519.212.6989
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.

 

 

Cheers!

JOHN MILLER

Sales Representative

RE/MAX Real Estate Centre Inc.

TXT/Cell: 519-212-6989

JohnRmiller@REMAX.net

 “Je parle 'maisons' aussi!"

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Proudly serving great clients in the Guelph/Cambridge area for over 14 years.

Receiver of Platinum Club, 100% Club, and Hall of Fame awards.

I love working with buyers and sellers, helping them to realise their housing and financial goals.

Please contact me- I look forward to helping you with your next move!

Local, knowledgeable cambridge and guelph real estate agent. Whether it's condos for sale in guelph, or houses for sale in cambridge ontario, John R Miller is a highly  recommended Realtor. Tips on buying and selling a home, Free home evaluations.

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Education: Bachelor of Math and Computer Science, Carleton University.

Specialty: Residential Buyers and Sellers

Experience: 14

Awards: Platinum, 100%, Hall of Fame

Area Covered: Primarily the Guelph and Cambridge corridor

Languages Spoken: English, French