Newfoundland Land Transfer Tax 2024
Newfoundland Flag What is land transfer tax?
The Land Transfer Tax for Newfoundland, also called introduced by the government of Newfoundland as the Registration of Deeds Prescribed Fees , is amongst the lowest in Canada as the housing prices are relatively low. The total fee consists of two parts: one based on the value of the property and one based on the mortgage amount. In short, both fees are charged at a base fee of $100 to cover for a sale price of $500 and an additional $0.40 for each $100 after that. The maximum fee payable is $5,000. The property will not be registered until the fee is paid in full.
Although there is no rebate for first-time home buyers, you may be exempt from the tax if the property is being registered on behalf of the Crown or on behalf of a non-profit airport authority.
Newfoundland Land Transfer Tax Calculator
Comparison of Newfoundland Land Transfer Taxes with Other Provinces
Newfoundland Land Transfer Tax Rates
Tax on Property Value
| Property Value | Marginal Tax Rate |
|---|---|
| Less than $500 | Flat fee of $100 |
| Above $500 | $100 plus an additional $0.40 for every $100 of part of $100 after |
Tax on Mortgage Value
| Mortgage Value | Marginal Mortgage Fee Rate |
|---|---|
| Less than $500 | Flat fee of $100 |
| Above $500 | $100 plus an additional $0.40 for every $100 of part of $100 after |
Visit our Canada Land Transfer Tax page to find out more information about land transfer and other taxes accross Canada.
