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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 maybe qualify for exemptions or refunds.

How Is This Transfer Tax Calculated?

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%

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