Estimate your land transfer tax amount and first-time buyer tax credit for your city, province and region in Canada using the right land transfer calculator below.
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Land Transfer tax cost is often overlooked when planning to buy a new house.
It can be a pretty hefty amount, especially for high-value properties.
This tax is calculated as a percentage of the purchase or transfer value of the real estate property.
In Canada, land transfer taxes are levied by the provincial and municipal governments.
This land transfer tax guide covers this tax, the rate in each province, territory, and municipality within Canada, the possible rebates and how to qualify for them.
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Land Transfer tax (LLT) is a mandatory government tax (provincial or municipal) levied when property ownership is transferred to a buyer.
The land transfer tax is generally levied when you purchase or gain an interest in a property registered at the Land Title Office.
By law, you or your legal professional must file a land transfer tax return and pay a land transfer tax unless you qualify for an exemption.
You, the buyer or new property owner, pay this tax.
Land transfer tax is calculated as a percentage of the purchase or transfer price of the property. This tax can be pretty high, especially for high-value properties.
This cost is often overlooked when planning to buy a new house.
The focus is more on the down payment.
Unless you qualify for a full exemption, you cannot avoid paying this tax.
It is an upfront cost that must be paid on the closing day.
Land transfer tax is a one-time provincial tax only paid when a property changes hands (i.e., title is transferred). Taxable transactions include:
Each province and municipal body (in Toronto and Montreal, where municipal tax rates are also applied) sets its land transfer tax rates and property value brackets.
We have outlined the tax rates and property value brackets for Canada’s provinces, territories, and municipalities.
You are subject to a provincial and possible municipal land transfer tax when you buy or take an ownership stake in Ontario.
You are subject to a provincial and possible municipal land transfer tax when you buy or take an ownership stake in Quebec.
You will be levied a Land transfer tax when you take title ownership or buy a property in BC.
Alberta does not have a Land Transfer Tax. Instead, it charges a Land Registration Fee and a Mortgage Registration Fee.
The Saskatchewan government charges separate fees to register the property title and the mortgage Loan
Manitoba uses a sliding scale based on declared fair market value or transferred the property purchase price to assess and calculate Land transfer tax amount
PEI Land Transfer Tax applies to several categories, including physical land, installation, and machinery
When you buy a property in Nova Scotia, you are subject to a Land Transfer Tax or a Deed Transfer Tax (DTT).
In New Brunswick, the Land Transfer Tax is currently 1.0% of the property’s purchase price
Yukon charges a sliding scale Land Transfer Fee based on the purchase price and the mortgage amount on the property.
When you buy a property in Newfoundland, you are subject to a Land Transfer Tax called the Registration of Deeds Act
You are subject to a Land Transfer Tax when you buy or take ownership of a property in the Northwest Territories.
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Your land transfer tax is a percentage of the property’s value. The LLT rate varies by province and municipality (Toronto and Montreal).
We recommend budgeting 1-2% of the property value to cover the land transfer tax when buying a house.
Use the land transfer calculator above to find the amount of your land transfer tax.
The result is based on location and the value of the property.
Use approvU Land Transfer Tax Calculators to get the correct amount of land transfer tax you will pay.
Land transfer taxes are generally based on the property’s purchase price or fair market value, and sometimes, the balance of any mortgage or debt is assumed as part of the arrangement to buy the land.
The following scenarios outline when the property’s fair market value is used to calculate the transfer tax.
Enter the province or city where the property is located, check whether you are a first-time home buyer, and enter the property’s value.
The calculator does its magic to give you the amount you should expect to pay.
It is a good planning tool to avoid surprises on the closing day when buying your new home.
Most provinces and municipalities in Canada offer a land transfer tax rebate program for eligible first-time homebuyers.
Suppose you qualify for the first-time homebuyer land transfer tax rebate program.
In that case, you can see a reduction or complete elimination of your land transfer tax amount in most Canadian provinces and territories.
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First-time homebuyers buying a property in Ontario can qualify for a tax rebate of up to $4,000.
First-time homebuyers who purchase a property for $368,333 or less will be rebated the full amount of the Ontario Land Transfer Tax ($4,000 value).
The maximum refund you can get in Ontario is $4,000. Given the Ontario purchase price bracket, a qualifying first-time homebuyer’s maximum rebate of $4,000.00 will cover the full house price up to $368,000.
But if the property’s house price or fair market value is over $368,000, you will receive the full maximum refund of $4,000 and will have to pay any charge above the $4,000.00.
First-time homebuyers buying a property in Toronto are now eligible for a land transfer tax refund of up to $4,475.
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The BC government offers many types of Land Transfer Tax rebates and exemptions.
You can qualify for most of these exemptions if you buy or take an ownership interest in a property located in BC.
If you’re purchasing your first home in BC, you may qualify to reduce or eliminate the amount of land transfer tax you pay.
You can still qualify for this exemption even if your co-borrower is not eligible.
For example, if you acquired a 70% interest in the property and another person acquired a 30% interest, but only you meet the qualifications, your 70% interest would receive the exemption.
You qualify as a first-time homebuyer in British Columbia if:
To qualify for a full refund, the property must:
You may only qualify for a partial refund if:
PEI provides Land Transfer Tax exemptions for first-time homebuyers buying a property of $200,000 or less if it will be their principal residence.
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