Ontario Purchaser’s Tax Duty When Purchase the Property

Author: Janice Zhang
Date: May 18, 2020

  1. Land Transfer Tax- LTT – based on purchase price:
    • First $55,000 x 0.5%
    • $55,000.01~$250,000 x 1%
    • $250,000.01~$400,000 x1.5%
    • $400,000.01~$2M x 2%
    • Over $2M~ x2.5%
  2. Rebate for Land Transfer Tax – 1st time Buyer
    • Portion % refund available, conditions may apply.
  3. Non-resident Speculation Tax – NRST
    • applicable to Non-Canadian resident from April 21, 2017 – Binding Purchase & Sale Agreement signing date
    • 15% of the purchase price
    • Pay first, rebate may be available in future when certain conditions are met* – contact your lawyer for your details.
  4. HST 13% applicable to new property purchase
    • Direct purchase from a builder
    • Rebate available if you would occupy the property as primary residence