Calculate the amount of transfer tax on property in Canada

Range of percentage

Used by British Columbia, Manitoba and Ontario

For this example we use 3 ranges of percentage

When the lowest number used is the Land/Property value, the calculation stops.

Range 1 = Lowest number between (Land/Property value or Range 1 maximum) x ( Provincial rate Range 1 / 100)
Range 2 = Lowest number between (Land/Property value or Range 2 maximum) – (Range 1 maximum) x ( Provincial rate Range 2 / 100)
Range 3 = Lowest number between (Land/Property value or Range 3 maximum) – (Range 2 maximum) x ( Provincial rate Range 3 / 100)
Total of transfer tax = Range 1 + Range 2 + Range 3

Calculation example

John just bouth a house for 550 000$ in British columbia.

Range 1 = Lowest number between (550 000$ or 200 000$) x ( 1 / 100) = 2000$
Range 2 = Lowest number between (550 000$ or 2 000 0000$) – (200 000$) x ( 2 / 100) = 7000$
Range 3 = Lowest number between (Land/Property value or Range 3 maximum) – (Range 2 maximum) x ( Provincial rate Range 3 / 100)
Total of transfer tax = 2000$ + 7000$ + Range 3 = 9000$

Fixed percentage

Used by New-Brunswick and Prince-Edward Island
Property/Land transfer tax = Land/Property value x ( Provincial rate / 100)

Calculation example

William just bouth a house for 250 000$ in New-Brunswick.
Property/Land transfer tax = 250 000$ x ( 1 / 100) = 2500$

Property, land transfer Tax Calculator

Property or Land transfer tax is a tax on buying a property. The tax amount differs and is based on where the property is located and its value. In any condition you’re a first-time buyer, you may be eligible for a refund on your land transfer tax. The tax is sometimes tiered; require you to pay a definite percentage up to a particular purchase price and then a greater percentage on a certain amount on top of that.

How to calculate land transfer tax

Use our land transfer tax calculator to measure property transfer taxes dependent on your region and city. It’s determined as a percentage of the price tag and the specific amount varies according to location. Use this calculator to see precisely the amount you can suppose to pay while moving into new home.

Every region figure out property transfer tax (or in Alberta and Saskatchewan, land move expenses) in an unexpected way. For each situation, it’s determined as a percentage of the purchase price of the home, yet the specific rates vary. To use the calculator, start by entering the Land / Property value and afterward select province, territory property; than the calculator will currently give you best rates accessible property or Land transfer tax.

Additional information about Property, land transfer Tax Calculator

A property buy raise many costs, including a property transfer tax. The tax depends on the selling cost of the asset and is applied by your provincial government. The standards and guidelines for property transfer tax contrast from area to region. In Toronto, you additionally need to pay a municipal similarity as land transfer tax affixed to the provincially determined amount.

First-time purchasers in Ontario, British Columbia, Prince Edward Island, and Toronto might be qualified for a tax rebate. Property Transfer Taxes, imposed on properties evolving hands, are the obligation of the buyer. Depending on where you live, the tax can go from 0.5% to 2.5% of the entire estimation of the property.

Our Property Transfer Tax Calculator will assist you with deciding how much tax you have to pay with your property buy. Select your city and territory from the lists and enter your offering cost to discover the land move charge for your area. Your mortgage agent or an accountant can give you more data about the property transfer tax in your province.

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