Alex  Huang

Alex Huang

Broker

Right at Home Realty Inc., Brokerage*

Mobile:
416-662-8895
Office:
416-391-3232
Email Me
Alex  Huang

Alex Huang

Broker

Right at Home Realty Inc., Brokerage*

Mobile:
416-662-8895
Office:
416-391-3232
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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416-662-8895

  

416-391-3232

  
Alex is a professional realtor who worked tirelessly and dedicated himself fully to his client's real estate needs. When representing his clients, he assisted them royally by creating a roadmap and walking them through with clarity and transparency. More capably, he advised his clients with alternative solutions and delivered results to meet their expectations with flexibility. 
 
If you are a buyer or investor, he provides the following services:
- Provide free analyses and reports to guide you to understand today's market.
- Inform you consistently of the status of the markets that you are interested in. 
- Arrange for all house showing appointments based on your schedule.
- Help put you in the strongest negotiating position possible.
- Advised professionally on any matter related to the transaction.
- Explained with transparency and clarity on all transaction documents. 
- Assist you on legal, inspection, finance and other real estate matters professionally. 
 
If you are a seller, he provides the following services:
- Provide you with a free home evaluation analysis and statistic report to assist you. 
- Provide a free marketing package (yard sign, colour brochures and flyers) and host an open house.
- Market your home through our network, digital marketing, social media and Multiple Listing Service (MLS).
- Provide you free photography and a virtual tour package.
- Assist you with staging/preparing your home for sale.
- Advise you with curbside appeal and minor home improvement. 
- Help put you in the strongest negotiating position possible.
- Advised professionally on any matter related to the transaction.