Land Transfer Tax Calculator


Ontario Land Transfer Tax Calculator

 
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Please, read these explanation below before making your decision on rebate.

Land Transfer Tax Refund for First-time Home Buyers

When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time home buyers of an eligible home may be eligible for a refund of all or part of the tax.

How much money you can get rebate?

Property Located in ONTARIO:  

If you are purchasing a property in Ontario and satisfy the above criteria you will receive up to $2,000.00 off your Ontario Land Transfer Tax.

Ontario Land Transfer Tax Calculate as:
Upto $55,000.00 @ 0.5%
$55,001.00 to $250,000.00 @ 1.0%
$250,001.00 to $400,000.00 @ 1.5%
$400,000+ @ 2.0%

Property Located in Toronto:

If you are purchasing a property in Ontario and within the City limits of Toronto and you are in a first time buyer criteria you will receive up to $3,725.00 off of your Toronto Land Transfer Tax and up to $2,000.00 off your Ontario Land Transfer Tax.

City of Toronto Land Transfer Tax Calculate as:
Upto $55,000.00 @ 0.5%
$55,001.00 to $400,000.00 @ 1.0%
$400,001+ @ 2.0%

So, a first time residential home buyer in Toronto, Ontario will get total rebate upto $2,000.00 + $3,725.00 = $5,725.00. Please see the example below for details.

For example:

Ontario Provincial Land Transfer Tax Calculation and Refund Example:

Cost of Home Tax Payable Tax Refund Net Tax Payable
$100,000 $725 $725 $0
$200,000 $1,725 $1,725 $0
$300,000 $2,975 $2,000 $975
$400,000 $4,475 $2,000 $2,475
$500,000 $6,475 $2,000 $4,475

 

City of Toronto Land Transfer Tax Calculation and Refund Example:

Cost of Home Tax Payable Tax Refund Net Tax Payable
$100,000 $725 $725 $0
$200,000 $1,725 $1,725 $0
$300,000 $2,725 $2,725 $0
$400,000 $3,725 $3,725 $0
$500,000 $5,725 $3,725 $2,000