Dharmendra  Dholakiya

Dharmendra Dholakiya

Broker

RE/MAX CROSSROADS REALTY INC. Brokerage*

Mobile:
416-834-6208
Office:
905-305-0505
Email Me
Dharmendra  Dholakiya

Dharmendra Dholakiya

Broker

RE/MAX CROSSROADS REALTY INC. Brokerage*

Mobile:
416-834-6208
Office:
905-305-0505
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.

 

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416-834-6208

  

905-305-0505

  
Ready to Sell your Property ?     
 
You do have a Choice,  " Better service,  friendly commission"special commission package if you Qualify Buying or selling  Property is a big   business transaction.
That's why it's so important to select, in advance, an experienced team of experts and professionals you can trust.In Ontario, a REALTOR® is a licensed real estate professional who is a member of a local real estate board as well as the Canadian Real Estate Association (CREA) and the Ontario Real Estate Association (OREA). This individual has successfully completed an intensive course of study and has skills, knowledge and experience that most buyers and sellers don't have. He or she must adhere to provincial law and abide by a National Code of Ethics, ensuring you a high level of service, honesty and integrity.

The REALTOR® you select should be someone that knows the neighborhood you live in or want to live in and who can provide you with sound, effective advice. A REALTOR® also acts as a mediator during the real estate transaction and can advice you on when to bring in the other experts or professionals. ( source: OREA )

I deal with Residential and business Real Estate, also  coordinate with group of professionals such as lawyer, mortgate broker, home inspector etc. so that my client gets all real estate related servcices with least effortyou can reach me at 416-834-6208

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Awards: RE/MAX 100% Club Award, RE/MAX Executive Award

Languages Spoken: English, Gujarati, Hindi, Punjabi, Urdu



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