Land Transfer Tax

Land transfer tax (LTT) is a tax that is paid by the buyer of a residential property; sellers never pay this tax. LTT is a one-time cost that must be paid in cash on closing of the property and cannot be rolled into a mortgage.

Provincial and Municipal LTTs are both calculated based on the same system with marginal tax rates increasing based on tiers up to the purchase price:

Marginal Tax Rate

• First $55,000: 0.5%
• $55,000.01 – $250,000: 1.0%
• $250,000.01 – $400,000: 1.5%
• $400,000.01 – $2,000,000: 2.0%
• $2,000,000+: 2.5%