Starion Realty Inc., Brokerage*

Phone:
(905) 678 - 8620
Fax:
(905) 678 - 8622
Contact Us

Starion Realty Inc., Brokerage*

Phone:
(905) 678 - 8620
Fax:
(905) 678 - 8622
Contact Us

GET PLATINUM FIRST ACCESS TO PRE-CONSTRUCTION CONDOS IN THE GTA AND GTHA

  • Featured Listing 689 The Queensway, Toronto Real Estate
    Reina Condos
    Type: High RiseToronto
    Occupy: 2020 Read More
  • Featured Listing 327 Royal York Road, Toronto Real Estate
    327 Royal York Condos
    Type: High RiseToronto
    Occupy: 2020 Read More
  • Featured Listing 37 Gladstone Avenue, Toronto Real Estate
    The BrickHouse Condos
    Type: Mid RiseToronto
    Occupy: 2021 Read More
  • Featured Listing 19 Harcroft Road, Toronto Real Estate
    The Howard High Park Condos
    Type: Mid RiseToronto
    Occupy: 2021 Read More
  • Featured Listing 45 Zorra Street, Toronto Real Estate
    IQ3 Condos
    Type: High RiseToronto
    Occupy: 2020 Read More
  • Featured Listing 2433 Dufferin Street, Toronto Real Estate
    8 Haus Boutique Condos
    Type: Mid RiseToronto
    Occupy: 2022 Read More
  • Featured Listing 5 Hamilton Street North, Hamilton Real Estate
    5 Hamilton
    Type: High RiseHamilton
    Occupy: 2021 Read More
  • Featured Listing 15 Cannon Street West, Hamilton Real Estate
    Jamesville Lofts
    Type: High RiseHamilton
  • Featured Listing 28 Eastern Avenue, Toronto Real Estate
    28 Eastern
    Type: Mid RiseToronto
    Occupy: 2024 Read More
  • Featured Listing 560 Essa Road, Barrie Real Estate
    Mapleview Terrace
    Type: Mid RiseBarrie
  • Featured Listing Mapleview Drive East, Barrie Real Estate
    Hewitt's Gate
    Type: High RiseBarrie
  • Featured Listing 793 Mapleview Drive East, Barrie Real Estate
    Bistro 6 Condos - Sumac
    Type: High RiseBarrie
    Occupy: 2022 Read More

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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(905) 678 - 8620

  

About Us

At Starion Realty Inc., Brokerage our mission is to empower and educate individuals, families and communities on how to build wealth using real estate. We uphold an ongoing commitment to providing an elevated level of real estate services. Our clients come first, and as a result, they are able to achieve more than they ever envisioned with their real estate investments.

Because we expect more from our associates, you can expect more from us when it comes to the important sale or purchase of your property. When it comes to your next move, we want you to experience the difference exceptional real estate service can make.

Contact us today, for free real estate advice, to find your nearest sales associate or to find your dream home!