Ontario Land Transfer Tax Explained

Ontario Land Transfer Tax

0.5% - on the first $55,000
1.0% - on portion between $55,000 - $250,000
1.5% - on balance over $250,000
2.0% - on anything over $400,000
Qualifying first time buyers receive up to a $2000 credit

Toronto Land Transfer Tax

0.5% - on the first $55,000
1.0% - on portion between $55,000 - $400,000
2.0% - on anything over $400,000
First time buyers are exempt on the first $400,000