When you buy property in Ontario, you are subject to provincial land transfer tax. This Ontario land transfer tax calculator calculates the provincial taxes that need to be paid on the home you are looking to buy. The calculator also includes rebates or municipal fees, if applicable.

To use the calculator simply input the purchase price of the home you intend to purchase. Then on the right-hand side choose the city this property is located and check any boxes that pertain to your situation.

Land transfer tax calculator

What is land transfer tax?

When you purchase a property in Ontario, you have to pay taxes on the acquisition. Our office ensures these taxes are paid directly to the Ministry of Finance upon the closing of your purchase transaction. The amount paid is based on the consideration, or purchase price, of your home, and can vary depending on municipality and if you qualify as a first-time home buyer.

How to calculate land transfer tax (LTT)

If the agreement of purchase and sale was entered into after November 14, 2016, and registration or disposition occurs on or after January 1, 2017, the tax rates on the value of consideration is as follows:

Ontario provincial land transfer tax

• Amounts up to and including $55,000:  0.5%
• Amounts exceeding $55,000, up to and including $250,000: 1% 
• Amounts exceeding $250,000, up to and including $400,000: 1.5%
• Amounts exceeding $400,000: 2% 
• Amounts exceeding $2,000,000 where the land contains one or two single family residences: 2.5%

Buying property in Toronto

The City of Toronto levies an additional LTT on Toronto real estate in addition to the provincial rate.

Toronto municipal land transfer tax

Below are the rates of LTT that will apply to all conveyances and unregistered dispositions of beneficial interest in land made on or after March 1, 2017 in Toronto, for properties containing at least one, and not more than two, single family residences with a consideration value (purchase price) of:

• Amounts up to and including $55,000:  0.5%
• Amounts exceeding $55,000, up to and including $250,000: 1% 
• Amounts exceeding $250,000, up to and including $400,000: 1.5%
• Amounts exceeding $400,000.00, up to $2,000,000: 2% 
• Amounts exceeding $2,000,000: 2.5%

How to apply for First-Time Home Buyer refund in Ontario

All those who qualify as first-time home buyers can claim a refund on their LTT when the property is registered. Your lawyer will complete all the required paperwork when your transaction is finalized to ensure the rebate is applied and credited to you on closing.

As of January 1 2017, first-time homebuyers can obtain a maximum rebate of $4,000 towards provincial LTT. This means that no land transfer tax is payable on the first $368,000 of the value of the consideration for the eligible home. Please note that there are eligibility requirements that must be fulfilled in order to qualify for the rebate.

For properties subject to the municipal LTT in Toronto, a rebate up to $4,475 may apply to eligible homes conveyed on or after March 1, 2017. Again, certain criteria must be met in order to receive the rebate.

First-Time Home Buyer eligibility in Ontario

• You must be a Canadian citizen or permanent resident of Canada.
• You must be 18 years or older.
• You must occupy the home within nine months of purchase.
• You cannot have owned a home or interest in a home anywhere in the world.
• Your spouse cannot have owned a home while being your spouse.
• If the home is newly constructed, it must be eligible for a home warranty.
• Homebuyers must apply for a refund within 18 months of the purchase date.

*Disclaimer: The Top Law Firm land transfer tax calculator should only be used for estimation. While we make every effort to keep the calculator up to date it is better to contact us and discuss your unique situation to get a more accurate calculation.