Ontario Land Transfer Tax Calculator

Everything about Ontario Land Transfer Tax. Also, use our easy-to-use land transfer tax calculator for Ontario to estimate your tax and rebate amounts.

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Overview Of Ontario Land Transfer Tax

You will be levied a Land transfer tax when you take title ownership or buy a property in Ontario. The amount paid is based on the purchase price or the fair market value of the property, whichever is higher.

In addition to the Ontario provincial land transfer tax, you will be levied a municipal land transfer tax if the property is located in Toronto. It is also based on the purchase price or the fair market value of the property, whichever is higher.

When you buy a property or take the beneficiary interest of a property in Ontario, you are levied land transfer tax (except if you are exempted). You will pay this tax to the province. Also, you will pay the municipal land transfer tax if the property is located in Toronto. The value of the land transfer tax.

Ontario Land Transfer Tax Calculator

Living In Ontario

Ontario is home to 38% of the nation’s population and accounts for almost 50% of the nation’s GDP. The numerous federal, provincial, and municipal incentive programs make it easy to own a house in Ontario.

Located in east-central Canada, it is home to the nation’s capital, Ottawa, and the biggest city in the country, Toronto. Other major cities in Ontario are Mississauga, Brampton, Windsor, Barrie, Burlington, Oshawa, London, and Hamilton.

Ontario is known for its diverse population fueled by its friendly immigration and housing policies. Ontario’s Greater Toronto Area (GTA) has the third-largest immigrant population globally, after London and New York. These all contribute to its booming population as thousands of people choose to make their home in Ontario every year.

The province is also a major manufacturing centre and is home to many technology companies, such as IBM, Google, Amazon, Microsoft, Shopify, Intel, and others. Ontario is also home to some of the world’s best universities and colleges, like the University of Toronto, Western Ontario, and Queen’s Universities. These universities are major research hubs fueling the booming startup scene in the province and creating more employment.

Brief Facts About Living In Ontario

'A Place To Grow'

Median House Price

$835,000

Average Mortgage

$486,206

Population

15,007,816

Median Household Income

$80,322

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Ontario Land Transfer Tax Pricing

Purchase Price of the Property	Marginal Land Tax Rate
Up to $55,000	0.5%
$55,000.01 To $250,000	1.00%
$250,000.01 To $400,000	1.50%
$400,000.01 To $2,000,000	2.00%
Above $2,000,000	2.50%

ON Land Transfer Tax Calculation Example

Suppose you buy a house in London, ON, priced at $800,000.

Your Provincial land transfer tax amount will be $12,475, as calculated below.

However, if you qualify for Ontario’s first-time homebuyer tax refund, you will get a land transfer tax rebate of $4,000.

After applying this $4,000 rebate, your provincial land transfer tax balance owing would be $8,475 ($12,475 – $4,000).

Fourth Bracket Land Tax Value

$12,475

Ontario Land Transfer Tax Amount

Ontario First-Time Home Buyer Land Transfer Tax Refund

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).

Ontario Tax Refund Eligibility Criteria

You must be a Canadian citizen.
You must be at least 18 years of age.
The house must be your principal residence.
You must occupy the home nine months from the date of the transfer to you.
Prior to this new property tax, you must not have owned or had an interest in a real estate property anywhere in the world.
Your spouse cannot have owned a property anywhere in the world while being married to you.

The maximum amount of 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 house price or fair market value of the property 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.

Toronto Land Transfer Tax

In addition to the Ontario Provincial Land Transfer Tax, if you are purchasing a property in Toronto, the municipal tax rates below will also be applied to the property’s purchase price or transfer value.

Value of Consideration	MLTT Rate
Up to and including $55,000.00	0.50%
$55,000.01 to $250,000.00	1.00%
$250,000.01 to $400,000.00	1.50%
$400,000.01 to $2,000,000.00	2.00%
Over $2,000,000.00	2.50%

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Toronto Municipal Land Transfer Tax Example Calculation

Suppose you bought the $800,000.00 property in Toronto, your land transfer amount will be $24,950.00

However, if you qualify for a first-time homebuyer tax refund, you will receive a combined tax rebate of $8,475.00 ($4,000.00 provincial land transfer tax rebate Plus $4,475.00 Toronto municipal land transfer tax rebate).

Applying this $8,475.00 tax rebate, your final land transfer for buying the $800,000.00 property in Toronto will be $16,950 ($12,475 + $12,475 – $4,000 – $4,475).

Land Transfer Tax Amount Buying $800K Property in Toronto

Toronto First-Time Homebuyer Land Transfer Tax Rebate

First-time homebuyers buying a property in Toronto are now eligible for a land transfer tax refund of up to $4,475.

Toronto Tax Refund Eligibility Criteria

You must be a Canadian citizen or permanent resident within 18 months of the transfer.
You must be at least 18 years of age.
The house must be your principal residence.
You must occupy the home nine months from the date of the transfer to you.
Prior to this new property tax, you must not have owned or had an interest in a real estate property anywhere in the world.
Your spouse cannot have owned a property anywhere in the world while being married to you.

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Ontario Land Transfer Tax Calculator

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Table of Contents

Overview Of Ontario Land Transfer Tax

Ontario Land Transfer Tax Calculator

Living In Ontario

Brief Facts About Living In Ontario

Median House Price

Average Mortgage

Population

Median Household Income

Shop Across 25+ Lenders For Your Best Mortgage Deals

Ontario Land Transfer Tax Pricing

ON Land Transfer Tax Calculation Example

Calculation

$55,000

0.50%

$275

($250,000 - $55,000)

1.00%

$1,950

($400,000 - $250,000)

1.50%

$2,250

($800,000 - $400,000)

2.00%

$8,000

$275

$1,950

$2,250

$8,000

$12,475

Ontario First-Time Home Buyer Land Transfer Tax Refund

Ontario Tax Refund Eligibility Criteria

Toronto Land Transfer Tax

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Toronto Municipal Land Transfer Tax Example Calculation

Calculation

$55,000.00

0.50%

$275.00

($250,000.00 - $55,000.00)

1.00%

$1,950.00

($400,000.00 - $250,000.00)

1.50%

$2,250.00

($800,000.00 - $400,000.00)

2.00%

$8,000.00

$275.00

$1,950.00

$2,250.00

$8,000.00

$12,475.00

$12,475.00

$12,475.00

$24,950.00

Toronto First-Time Homebuyer Land Transfer Tax Rebate

Toronto Tax Refund Eligibility Criteria

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