Land Transfer Tax Ontario - Genesis Associates Ltd.
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  Genesis Associates Mortgage Brokers on Land Transfer Tax


Calculate your expenses ahead of time:

The Ontario Government charges a Land Transfer Tax each time the ownership of land passes. The tax is based on the purchase price and is payable by the Purchaser on closing. The Tax is 0.5% for the first $55,000, then 1% up to $250,000, 1.5% up to $400,000, and 2% above that.


The Tax can be calculated as follows:

  • Under $250,000:   Purchase Price X 1.0% less $275.00
  • Over   $250,000:   Purchase Price X 1.5% less $1,525.00
  • Over   $400,000:   Purchase Price X 2.0% less $3,525.00

    For Example:

    Purchase Price of $150,000
           X 1.0% = $1,500,   less $275.00,    LTT = $1,225.00

    Purchase Price of $200,000
           X 1.0% = $2,000,   less $275.00,    LTT = $1,725.00

    There is a program to rebate up to $2,000 of the Transfer Tax for first time home-buyers purchasing new homes, which has been extended on a year to year basis.

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