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