Allan  Todd

Allan Todd

Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage*

Mobile:
416-949-8633
Office:
905-272-5000
Email Me
Allan  Todd

Allan Todd

Sales Representative

RE/MAX Real Estate Centre Inc., Brokerage*

Mobile:
416-949-8633
Office:
905-272-5000
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated.
For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

Have Questions?

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416-949-8633

  

905-272-5000

  

I am the third of seven children raised with old fashion discipline and strong family values. We were taught respect for others. To be honest. To be truthful. To assist those in need. To give back to the community. To maintain and preserve the integrity of the family name. The extended family reinforced those values. And those values which have added quality and richness to my life, now constitute my inner compass. This inner compass guides every aspect of my personal life and my business life.

I love what I do and I am passionate about my role as an agent in the purchase or sale of real estate. My integrity, professionalism and absolute attention to detail has converted many clients into raving fans. Hard copy references are on file.

I am a member in good standing of the Toronto Real Estate Board (TREB), The Ontario Real Estate Association (OREA) and The Canadian Real Estate Association (CREA) and I have served in various executive positions at the Mississauga Real Estate Board, where I served as President. I also served as a member of the Government Relations Committee at OREA.



Area Covered: All of The Greater Toronto Area

Languages Spoken: English