Canada Land Transfer Tax Calculator (Ontario, Toronto, BC)

About the Canada Land Transfer Tax Calculator (Ontario, Toronto, BC)

When you buy a home in Ontario or British Columbia, the province charges a tax on the transfer: Ontario’s land transfer tax and British Columbia’s property transfer tax — and in the City of Toronto a municipal land transfer tax as well. Each has its own sliding scale, its own relief for first-time buyers and its own tax for foreign buyers.

Enter the price (or in B.C. the fair market value) and what you are buying: the calculator applies the province’s bands, Toronto’s tax if the home is in the city, the first-time homebuyer refund or B.C.’s first time home buyers’ or newly built home exemption, and the Non-Resident Speculation Tax or B.C.’s additional tax where they apply — and shows each step, the rates and the same purchase in Ontario, Toronto and B.C. Nothing you type leaves your browser.

Common uses

• Budget the land transfer tax in your closing costs before you make an offer.
• See how much a first-time buyer refund or B.C. exemption saves, including on a shared purchase.
• Compare what the same home costs in tax in Ontario, Toronto and British Columbia.
• Check the foreign buyer taxes before a purchase by a buyer who is not a citizen or permanent resident.

Ontario land transfer tax

Ontario charges 0.5% of the value of the consideration up to $55,000, 1% from $55,000 to $250,000, 1.5% to $400,000 and 2% above that, plus 2.5% above $2,000,000 when the land holds one or two single family residences (Ontario). The value is generally the price; when HST applies to a new home it is not included. As a quick formula above $400,000: tax = value × 2% − $3,525, and above $2 million for a home value × 2.5% − $13,525.

First-time homebuyers can get a refund of up to $4,000, so a home up to $368,000 pays no tax. The refund is shared in proportion to the interest the first-time buyers acquire, and every buyer claiming it must be at least 18, never have owned a home anywhere, move in within nine months and be a Canadian citizen or permanent resident (Ontario). Foreign nationals, foreign corporations and taxable trustees buying land with one to six single family residences also pay the 25% Non-Resident Speculation Tax on the full value (Ontario).

Toronto municipal land transfer tax

In the City of Toronto, the municipal land transfer tax is added to Ontario’s, with the same bands up to $2,000,000. For land with one or two single family residences it continues with 2.5% to $3,000,000, then 4.40% to $4M, 5.45% to $5M, 6.50% to $10M, 7.55% to $20M and 8.60% above $20M; other land pays 2% above $400,000 (City of Toronto). First-time buyers can get a rebate of up to $4,475 (City of Toronto), shared like Ontario’s by the first-time buyers’ interest (Municipal Code, Chapter 760). Foreign buyers pay the 10% Municipal Non-Resident Speculation Tax on top (City of Toronto).

British Columbia property transfer tax

B.C. charges 1% of the fair market value up to $200,000, 2% from $200,000 to $2,000,000 and 3% above, plus a further 2% on the residential value above $3,000,000 (Government of B.C.).

• First time home buyers’ program: no tax on the first $500,000 of a home worth up to $835,000 — a full exemption up to $500,000 and $8,000 off above it — phased out between $835,000 and $860,000 (B.C., exemption amounts).
• Newly built home exemption: the whole tax up to $1,100,000, phased out to nothing at $1,150,000: exemption = tax × (1,150,000 − value) ÷ 50,000 (B.C., exemption amounts).
• Additional property transfer tax: foreign entities and taxable trustees pay 20% on their share of a residential property in the Capital, Fraser Valley, Metro Vancouver, Central Okanagan and Nanaimo regional districts (B.C.).

Both exemptions apply only to the share bought by people who qualify.

Limitations

• Only Ontario (with Toronto) and British Columbia are covered; other provinces have their own taxes or registration fees.
• Exemption and refund conditions have more parts than the calculator asks about; check the province’s rules (and the City’s) before you rely on them.
• Land partly used for a home (a farm with a house, a mixed-use building), B.C. land over 0.5 hectares, leases, transfers between relatives or to corporations, and other special cases are worked out differently.
• Rebates of the NRST, the nominee, protected person and spouse exemptions, and the City of Toronto’s administration fee are not calculated.
• Registration fees, legal fees and adjustments at closing are extra.

Privacy

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