- 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%
- Rebate for Land Transfer Tax – 1st time Buyer
- Only applicable to Canadian resident from January 1, 2017.
- Maximum rebate: $4,000 LTT for Ontario and/or up to $4,475 LTT for City of Toronto, if applicable.
- Portion % refund available, conditions may apply.
- 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.
- HST 13% applicable to new property purchase
- Direct purchase from a builder
- Rebate available if you would occupy the property as primary residence