Real Estate Agents previewing MLS listings, Homes For Sale & Condos For Sale by Century 21 Realtors
A Real Estate Site showcasing MLS listings info by Real Estate Agents & Realtors. Providing North York condos for sale, Markham homes for sale, Scarborough houses etc. Neighbourhoods Data for first time home buyers & investing
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Use the form below to calculate the amount of land transfer tax you will have to pay in Ontario when buying a resale home or condo (applies to all buyers except those purchasing in the 416 area code). Land transfer tax is applied on the sale price only.
Please note that if you are a buyer in the City of Toronto (416 area code), you will be subject to an additional new City of Toronto land transfer tax for any real estate purchase made in 2008 onwards. There is however, an exemption for first time buyers buying residential real estate up to a purchase price of $400,000. The additional City of Toronto tax is calculated as follows:
Up to $55,000 X .5 % of total property value
From $55,000 to $400,000 X 1 % of total property value
From $400,000 up X 2 % of total property value
READ MORE ABOUT THE CITY OF TORONTO LAND TRANSFER TAX AND MY OPINION OF ITS IMPACT ON TORONTO'S REAL ESTATE MARKET IN MY BLOG BY CLICKING HERE
As mentioned above, the City of Toronto Tax does not affect buyers in areas outside the (416) area code.
External information on the City of Toronto land transfer tax may be found by clicking here.