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Information on Land Transfer Tax
Easy Calculators  Ontario Land Transfer Tax Calculator
Toronto Residents click below to view and compare both
Toronto Land Transfer Tax Calculator Please Use the Toronto Land Transfer Tax Calculator
to see the 2 Taxes Compared "Side by Side" above.
The combined dollar amount will be required as part of your new closing costs.
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Details of New Toronto Land Transfer Tax Toronto City Council approved a municipal land transfer tax that will be levied on top of the provincial land transfer tax. As a direct result of this strong position, City Council was forced to make a number of amendments to the City’s original proposal, including rebates for first-time buyers, a reduced rate, and grandfathering for existing transactions. The Municipal Land Transfer Tax (MLTT) will be charged on properties purchased in Toronto and on disposition of all beneficial interests with closing dates starting February 1, 2008. What was approved by City Council? A second land transfer tax, on top of the provincial land transfer tax, at the following rates: Residential: - 0.5% of the amount of the purchase price up to and including $55,000
1% of the amount of the purchase price between $55,000 and $400,000 2% of the amount of the purchase price above $400,000
Commercial / Industrial / Etc.: 0.5% of the amount of the purchase price up to and including $55,000 1% of the amount of the purchase price between $55,000 and $400,000 1.5% of the amount between $400,000 and $40 million 1% of the amount above $40 million
These figures are not applicable outside of Toronto Area, see the Provincial Land Transfer Tax, click our calculator above to arrive at that single figure.
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