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| Top of Page | |
Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.
Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, .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? $2,375.00!
The following chart illustrates Land Transfer Taxes by province:
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| Province | Purchase Amount | X total property value |
| ONTARIO Land Transfer Tax |
Up to $55,000 | .5% |
| From $55,000 to $250,000 | 1% | |
| From $250,000 to $400,000 | 1.5% | |
| From $400,000 and up | 2% | |
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| BRITISH COLUMBIA Property Purchase Tax |
Up to $200,000 | 1% |
| From $200,000 and up | 2% | |
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| MANITOBA Land Transfer Tax |
Up to $30,000 | N/A |
| From $30,000 to $90,000 | 0.5% | |
| From $90,000 to $150,000 | 1% | |
| From $150,000 and up | 1.5% | |
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| NOVA SCOTIA Land Transfer Tax |
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| Halifax County Regional Municipality | Total Price | .015% |
| Outside Halifax County | Total Price | .005% |
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| QUEBEC Transfer Tax |
Up to $50,000 | .5% |
| From $50,000 to $250,000 | 1% | |
| From $250,000 and up | 1.5% |
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