RESIDENTIAL LAND TRANSFER*
Purchase Price
|
Calculation of Land Transfer Tax
|
0 to $55,000
|
.005 x Amount
|
$55,001 to $250,000
|
(.01 x Amount) minus 275
|
$250,001 to $400,000
|
(.015 x Amount) minus 1,525
|
Greater than $400,000
|
(.02 x Amount) minus 3,525
|
Example: Purchase Price = $275,000
Land Transfer Tax = (.015 x $275,000) minus $1,525 = $2,600
COMMERCIAL LAND TRANSFER*
Purchase Price
|
Calculation of Land Transfer Tax
|
0 to $55,000
|
.005 x Amount
|
$55,001 to $250,000
|
(.01 x Amount) minus 275
|
Greater than $250,000
|
(.015 x Amount) minus 1,525
|
Example: Purchase Price = $375,000
Land Transfer Tax = (.015 x $375,000) minus $1,525 = $4,100
*Figures in Canadian Dollars
|