Land Transfer Tax Calculator
Get accurate information with the Ontario Land Transfer Tax and Toronto Municipal Tax calculator. Receive immediate tax estimates to assist in planning for your investment.
Land Transfer Tax Calculator
Select which calculator you would like to use:
Ontario Land Transfer Tax Calculator
Calculate Provincial Land Transfer Tax for properties across Ontario
Toronto Municipal Tax Calculator
Calculate Municipal Land Transfer Tax (MLTT) & Municipal Non-Resident Speculation Tax (MNRST)
Important Notice
Disclaimer
This calculator is provided for general informational purposes only and does not constitute legal advice. While Real Estate Lawyer Milton is a qualified real estate law firm, we do not guarantee the accuracy or applicability of the calculated amount unless we are formally retained to advise on your transaction. The calculator is based on publicly available information and may not reflect recent legislative changes or the specific details of your matter. No lawyer-client relationship is formed by using this tool, and Real Estate Lawyer Milton disclaims any liability for reliance on the results. For a confirmed calculation tailored to your transaction, please contact us to retain our services.
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.