Land Transfer Tax

A breakdown of Land Transfer Tax:

Purchase Price of Home:                     Marginal Tax Rate:

First $55,000                                          0.5%

$55,000.01 to $250,000                       1.0%

$250,000.01 to $400,000                    1.5%

$400,000.01 to $2,000,000                  2.0%

Over $2,000,000                                    2.5%

First time home buyers receive a rebate up to $4,475.

To make life easy here is a calculator that calculates taxes owed on purchase price:

https://www.ratehub.ca/land-transfer-tax

*If you are buying a home in Toronto there Municipal tax on-top of Provincial*