Max  Shokouhi

Max Shokouhi

Sales Representative

InCom Office, Brokerage *

Mobile:
416-414-0790
Office:
416-477-2860
Email Me
Max  Shokouhi

Max Shokouhi

Sales Representative

InCom Office, Brokerage *

Mobile:
416-414-0790
Office:
416-477-2860
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.

Have Questions?

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As a knowledgeable and reliable Real Estate Agent, I understand that buying and selling a home is one of the life's paramount experience. As a real estate professional, my goal is to save you time and money, and ensure all of your sales and purchase needs are met.


To help me serve you better, please complete the form that best suits your needs:  Dream Home Finder, Just Listed Home, Free Real Estate Reports or Free Home Evaluation.

 

As a real estate professional,  I will make every effort to find or sell your home in timely and professional manner, and provide you with superior customer service and helpful advice. It is important to bring my clients the latest cutting-edge tools of the real estate industry. Therefore, I regularly attend seminars and courses that help to address and serve the needs of my clients better. Remember, the sale or purchase of a home can be a very overwhelming experience. As a professional, I am here to help make your real estate transaction easy, informative and successful.

 

Please call or e-mail me with any questions you may have. I look forward to working with you.

 

Sincerely,

 

Max Shokouhi

Sales Representative



Specialty: Residential, Condos, Investment Residential

Area Covered: Newmarket, Aurora, RichmondHill