Land Transfer Tax Explanation & Calculator

Ontario has a multi-tiered land transfer tax that is payable by the Buyer on every purchase. By “Multi-tiered” we mean it’s not a straight percentage calculation, a breakdown is as follows:
From 0 – $55,000 of property value: 0.5%
Value exceeding $55,000 to $250,000: 1%
Value exceeding $250,000 to $400,000: 1.5%
Value exceeding $400,000 to $2,000,000: 2%
Amounts exceeding $2,000,000 when land has a one/two single family residence: 2.5%
If you are purchasing a property in Toronto, there is also a Municipal Land Transfer Tax, payable by the Buyer on every Purchase.

Value of consideration

MLTT Rate

Up to and including $55,000.00

0.5%

$55,000.01 to $250,000.00

1.0%

$250,000.01 to $400,000.00

1.5%

$400,000.01 to $2,000,000.00

2.0%

$2,000,000.01 to $3,000,000.00

2.5%

$3,000,000.01 to $4,000,000.00

3.5%

$4,000,000.01 to $5,000,000.00

4.5%

$5,000,000.01 to $10,000,000.00

5.5%

$10,000,000.01 to $20,000,000.00

6.5%

Over 20,000,000.00

7.5%
 
Use the tool below to calculate your Land Transfer Tax. Don’t forget to tick the boxes indicating if you’re a first time Buyer (savings!! There is a Land Transfer Tax Refund Program for First Time Buyers, but you can’t have owned property anywhere in the WORLD), or if you’re buying in the City of Toronto (budget for the second tax!).
Calculator

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