Home Buyer Closing Costs Land Transfer Tax
Land Transfer Tax PDF Print E-mail
 
This is paid by the Buyer at the date of the final closing to the Treasurer of Ontario pursuant to the Land Transfer Tax Act. The tax is based on the purchase price and the current rates became effective on June 1st,1989.


The rates are as follows for a single family residence:
 
 $0 - $55,000  
  .5% (0.5% of $55,000 is $275)
 $55,001 - $250,000  1% less $275
 $250,001 - $400,000  1.5% less $1,525
 $400,001 and up  2.0% less $3,525
 
 
 
 
 
 
 
 
 
Example: To calculate the land transfer tax on a purchase price of $275,000, multiply the purchase price by 1.5% and deduct $1,525 ($4,125 - $1,525 = $2,600)