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    Understanding land transfer taxes

    Posted by Michele Cummins on May 22, 2014
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    If you’re buying a home in a large Canadian centre, you’ll need to add land transfer taxes to your list of closing costs. 

    Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a part of the homebuying process. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from 0.5% to 2% of the total value of the property. 

    Many provinces have multi-tiered taxation systems that can seem complicated. If you purchase a property for $260,000 in Ontario, for example, 0.5% is charged on the first $55,000, 1% is charged on $55,000 to $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,375.00. 

    Land transfer taxes by province 

    British Columbia 
    Up to $200,000 X 1% of total property value
    From $200,000 up X 2% of total property value 

    Manitoba 
    Up to $30,000 N/A
    From $30,000 to $90,000 X 0.5% of total property value
    From $90,000 to $150,000 X 1% of total property value
    From $150,000 up X 1.5% of total property value 

    Ontario 
    Up to $55,000 X 0.5% of total property value
    From $55,000 to $250,000 X 1% of total property value
    From $250,000 to $400,000 X 1.5% of total property value
    From $400,000 up X 2% of total property value 

    Quebec 
    Up to $50,000 X 0.5% of total property value
    From $50,000 to $250,000 X 1% of total property value
    From $250,000 up X 1.5% of total property value 

    Noval Scotia 
    Halifax Metro 
    1.5% on total property value 
    Outside Halifax County 
    Check with local municipality