Canada Land Transfer Tax Calculator 2023
| Total Tax | $12,950.00 | |
|---|---|---|
| Provincial | $ 6,475.00 | |
| Municipal | $ 6,475.00 | |
| Rebate | $ 0.00 | |
| Speculation Tax | $ 0.00 |
Note: In addition to the tax calculated above, the city of Toronto levies an administration fee of $75 + HST.
Comparison of Provincial Land Transfer Taxes for a $500K Property
What is land transfer tax?
When you acquire a property (and the land it rests on), you must pay a tax to the government after the transaction closes. The amount paid depends on the value of your property, but almost always forms the largest portion your closing costs. Our calculator shows you how much you can expect to pay and why. If you are a first-time home buyer, we show you how much you can expect to save in government-sponsored rebates, reducing the impact of your land transfer fees.
Land Transfer Taxes for Other Provinces
Ontario
Ontario Land Transfer Tax
Ontario levies a land transfer tax by applying a tax-bracket system to your property’s purchase price. The full breakdown of your provincial land transfer tax is shown below.
Land transfer tax calculation (without any rebate) for $500,000 property in ON
| Tax Bracket | Marginal Tax Rate | Marginal Purchase Price | Marginal Tax | ||||
|---|---|---|---|---|---|---|---|
| First $55,00055k | 0.5% | × | $ | 55,00055k | = | $ | 275275 |
| $55,00055k to $250,000250k | 1.0% | × | $ | 195,000195k | = | $ | 1,9501.95k |
| $250,000250k to $400,000400k | 1.5% | × | $ | 150,000150k | = | $ | 2,2502.25k |
| $400,000400k to $2,000,0002.00m | 2.0% | × | $ | 100,000100k | = | $ | 2,0002.00k |
| Over $2,000,0002.00m | 2.5% | × | $ | 00 | = | $ | 00 |
| Total Tax | $ | 6,4756.48k | |||||
Source: Ontario Ministry of Finance
Ontario offers a land transfer tax refund of up to $4,000 for first-time home buyers.
Toronto Land Transfer Tax
Toronto levies an additional land transfer tax equal in value to the Ontario land transfer tax. You will also need to pay an administration fee of $75 + HST.
Toronto offers a land transfer tax rebate of up to $4,475 for first-time home buyers. You can learn more about the rebate on The City of Toronto page for Municipal Land Transfer Tax Rebate Opportunities.
British Columbia
Ontario Land Transfer Tax
Ontario levies a land transfer tax by applying a tax-bracket system to your property’s purchase price. The full breakdown of your provincial land transfer tax is shown below.
Land transfer tax calculation (without any rebate) for $500,000 property in BC
| Tax Bracket | Marginal Tax Rate | Marginal Purchase Price | Marginal Tax | ||||
|---|---|---|---|---|---|---|---|
| First $55,00055k | 0.5% | × | $ | 55,00055k | = | $ | 275275 |
| $55,00055k to $250,000250k | 1.0% | × | $ | 195,000195k | = | $ | 1,9501.95k |
| $250,000250k to $400,000400k | 1.5% | × | $ | 150,000150k | = | $ | 2,2502.25k |
| $400,000400k to $2,000,0002.00m | 2.0% | × | $ | 100,000100k | = | $ | 2,0002.00k |
| Over $2,000,0002.00m | 2.5% | × | $ | 00 | = | $ | 00 |
| Total Tax | $ | 6,4756.48k | |||||
Source: Ontario Ministry of Finance
Ontario offers a land transfer tax refund of up to $4,000 for first-time home buyers.
Manitoba
Ontario Land Transfer Tax
Ontario levies a land transfer tax by applying a tax-bracket system to your property’s purchase price. The full breakdown of your provincial land transfer tax is shown below.
Land transfer tax calculation (without any rebate) for $500,000 property in MB
| Tax Bracket | Marginal Tax Rate | Marginal Purchase Price | Marginal Tax | ||||
|---|---|---|---|---|---|---|---|
| First $55,00055k | 0.5% | × | $ | 55,00055k | = | $ | 275275 |
| $55,00055k to $250,000250k | 1.0% | × | $ | 195,000195k | = | $ | 1,9501.95k |
| $250,000250k to $400,000400k | 1.5% | × | $ | 150,000150k | = | $ | 2,2502.25k |
| $400,000400k to $2,000,0002.00m | 2.0% | × | $ | 100,000100k | = | $ | 2,0002.00k |
| Over $2,000,0002.00m | 2.5% | × | $ | 00 | = | $ | 00 |
| Total Tax | $ | 6,4756.48k | |||||
Source: Ontario Ministry of Finance
Ontario offers a land transfer tax refund of up to $4,000 for first-time home buyers.
Québec
Ontario Land Transfer Tax
Ontario levies a land transfer tax by applying a tax-bracket system to your property’s purchase price. The full breakdown of your provincial land transfer tax is shown below.
Land transfer tax calculation (without any rebate) for $500,000 property in QC
| Tax Bracket | Marginal Tax Rate | Marginal Purchase Price | Marginal Tax | ||||
|---|---|---|---|---|---|---|---|
| First $55,00055k | 0.5% | × | $ | 55,00055k | = | $ | 275275 |
| $55,00055k to $250,000250k | 1.0% | × | $ | 195,000195k | = | $ | 1,9501.95k |
| $250,000250k to $400,000400k | 1.5% | × | $ | 150,000150k | = | $ | 2,2502.25k |
| $400,000400k to $2,000,0002.00m | 2.0% | × | $ | 100,000100k | = | $ | 2,0002.00k |
| Over $2,000,0002.00m | 2.5% | × | $ | 00 | = | $ | 00 |
| Total Tax | $ | 6,4756.48k | |||||
Source: Ontario Ministry of Finance
Ontario offers a land transfer tax refund of up to $4,000 for first-time home buyers.
New Brunswick
New Brunswick charges a land transfer tax equal to 1% of your purchase price.
Nova Scotia
Nova Scotia does not charge a provincial land transfer tax outside of Halifax for residents. Specific cities may charge a land transfer tax, generally around 1%. Canadians who aren’t residents of Nova Scotia must pay an additional 5% deed transfer tax on the purchase price of their home. The tax begins April 1, 2022 and applies to all residential properties with three or fewer units.
You are exempt from the tax if you become a resident of Nova Scotia within six months of purchasing the home. You can visit the Province of Nova Scotia webpage to learn more about the tax and additional exemptions.
Newfoundland and Labrador
Newfoundland and Labrador charges a land transfer tax of $100, plus 40 cents for every $100 of purchase price over $500 (rounded down).
Prince Edward Island
The PEI transfer tax exemption waives the property transfer tax for first-time home buyers. You must have resided in PEI for 183 consecutive days before purchasing your home, or have occupied your newly purchased home for at least 183 consecutive days.
There is no limit on the purchase price for first-time home buyers to receive a refund. Prior to 2016, the purchase price limit to be eligible for the refund was $200,000.
Non-first-time home buyers are also exempt from PEI's real property transfer tax if the cost of the property being transferred is below $30,000.
Alberta
Alberta does not charge a land transfer tax. However, you will be charged a property registration fee.
The property registration fee has two components:
- Property Value Component: $50, plus $1 for every $5,000 of purchase price (rounded up).
- Mortgage Component: $50, plus $1 for every $5,000 of your mortgage amount (rounded up).
Your total registration fee is the sum of the two fees above. In our calculations, we assume a 20% down payment.
Saskatchewan
Saskatchewan charges a land transfer tax equal to 0.3% of your purchase price. Exceptions apply if your property is worth $8,800 or less.
Yukon
Land Transfer Fees in Yukon consists of three flat fees: an Assurance Fee if the value of your property has increased from the last time its ownership was transferred, a Transfer Fee that starts out being $50 for property valued under $100,000 and increases up to $650 for property valued over $10,000,000, and a Mortgage Fee with costs almost equivalent to the cost of the Transfer Fee.
Nunavut
Similar to the Northwest Territories, there is no Land Transfer Tax for Nunavut but there is a charge of two fees: a registration fee of $1.50 for every $1000 of property value with a base fee of $60 if the property is under $1,000,000 and $1 for every $1000 that surpasses it paid to the Legal Registries Office, plus a fee to register mortgage that costs $1 for each $1000 of the mortgage amount with a base fee of $40.
Northwest Territories
There is no Land Transfer Tax for the Northwest Territories, but there is a charge of two fees that make up the process of Land Transfer: $1.50 for every $1000 of property value with a base fee of $100 if the property is under $1,000,000 and $1 for every $1000 that surpasses it, along with a mortgage fee of $1 for every $1000 of the mortgage amount with a base fee of $80.
Provincial Land Transfer Tax Calculators
Frequently Asked Questions
Each province has their own definition of a First-Time Home Buyer. Generally:
- You must be at least 18 years of age.
- You must be a Canadian citizen or permanent resident.
- You must occupy the property as your principal residence.
- You cannot have owned a home, or a stake in a home, anywhere in the world, at any time.
- Your spouse/common-law partner cannot have owned a home while they were your partner.
You may claim an immediate refund (or exemption from the tax) at the time of registration.
Yes. You may have up to an 18 month period after the registration of your new home to apply for a refund.
Yes, in certain cases. After the purchase of a property, you have an 18-month window following registration to obtain a rebate. If you gain citizenship or permanent residency during this period, you can claim the full rebate amount.
The Non-Resident Speculation Tax (NRST), also known as land speculation tax, is a 25% tax on residential property across Ontario and 20% in parts of British Columbia. However, the 2022 federal budget announcement proposed a two-year ban on foreign homebuyers altogether.
This ban starts on January 2023. When the foreign buyer ban is effective, the NRST won’t be relevant as those who aren’t citizens or permanent residents won’t be able to buy residential property in Canada. However, when foreign investment is welcome to Canada again, NRST will likely continue to apply.