Land Tax Calculator

If you are purchasing real estate and need to accurately estimate the amount payable, our property transfer tax calculator helps do so with clarity. We enable buyers and investors to plan ahead by using the calculator to easily determine costs and make informed financial decisions before completing their property transactions.

Understanding the Land Transfer Tax Calculator

When you buy property in Ontario, you are usually required to pay Land Transfer Tax (LTT). This tax applies to both registered ownership changes and certain unregistered transfers unless an exemption is allowed by law.

The buyer is responsible for to rely on an accurate land transfer tax calculator and fulfill the sum. The tax is based on the ‘value of consideration’, which typically includes the purchase price, assumed debt, upgrades, and other related costs.

Land Transfer Tax Rates

For agreements signed after November 14, 2016, and registered on or after January 1, 2017, the following tax rates apply:

On the first $55,000 the rate is 0.5 percent.
From $55,001 to $250,000 the rate is 1.0 percent.
From $250,001 to $400,000 the rate is 1.5 percent.
Any amount above $400,000 is taxed at 2.0 percent.
If the property costs more than $2 million and includes one or two single-family residences, the rate is 2.5 percent on the amount above $2 million.

A single-family residence includes homes like cottages and cabins that are meant for one family’s use, even if only part of the year.

Non-Resident Speculation Tax

A 25 percent Non-Resident Speculation Tax (NRST) applies to foreign nationals, foreign corporations, or taxable trustees who buy residential property anywhere in Ontario. This is in addition to the land transfer tax Ontario.

Other Situations

If you buy vacant land and sign a construction contract at the same time, then your land transfer calculator process is based on the total of both the land and construction costs.

Refunds and Prepayments

In some cases, you may pay too much LTT. You can apply for a refund. You can also choose to prepay LTT directly to the Ministry of Finance. You need submit various documents, including:

The purchase agreement and all attached schedules.
The registered land document.
The statement of adjustments.
Any appraisal if the value is based on fair market value.
A cover letter explaining the request.

You can consult our real estate lawyers at any stage of using the property transfer tax calculator for advice regarding which documents you need to gather and which regulations apply to your transaction.

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