Ontario Land Transfer Tax What is land transfer tax in Ontario? When you acquire land or a beneficial interest in land, you must also pay land transfer tax to the province when the transaction closes. Above all, land transfer tax is based on the amount paid for the land. The tax is also based on the remaining amount of any assumed mortgage or debt when buying the land. In some cases, land transfer tax is also based on the fair market value of the land, such as in: A lease transfer with a remaining term certainly exceeding 50 years Land transfer from a corporation to another one of its shareholders The transfer of land to a corporation, if shares of the corporation are issued as a result Ask one of our experts to see if you qualify for exemptions or refunds. Ontario Transfer Tax: Purchase Price of Home: $55,000 Marginal Tax Rate: $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% Get the lowest rate, plus additional benefits like no origination or processing fees. Find the lender that best suits your needs, from local lenders to major banks.Instead of just shopping at one bank, compare over 30 different lenders to choose one that best suits your needs.Available on Apple iOS and Android. Simply download our mobile app to start.All information submitted is secure, encrypted, and only viewable to those you give permission to.Apply with the help of a team member or our digital assistant. We make it fast and easy to apply!