Toronto and Ontario Land Transfer Tax

Toronto Land Transfer Tax

 

For all purchasers:
  • one-half of one percent of the value of the consideration on sales up to and including $55,000;
  • one per cent of the value of the consideration on sales exceeding $55,000 up to and including $400,000;
  • two per cent of the value of the consideration of land containing one and/or two single family residences exceeding $400,000;
  • one and a half per cent of the value of the consideration on commercial properties including multi-residential units exceeding $400,000 up to $40 million;
  • one per cent of the value of the consideration which exceeds $40 million.
For first time purchasers:

A rebate of up to $3,725 will apply to first-time purchasers of both new and existing homes. This means a full rebate for first-time buyers of homes valued at $400,000 or less. For example, a first-time purchaser of a home valued at $600,000 would pay land transfer tax according to the scale shown above, and receive a rebate of $3,725. A first time home buyer of a home valued at $300,000 would get a full rebate on the land transfer tax.