Canada Land Transfer Tax Calculator
Looking to calculate your land transfer tax in Canada? Before you finalize your home purchase, you’ll want to ensure that you’ve put enough money aside to cover items associated with closing the deal. There are several fees and closing costs related to transferring the property from seller to buyer. It would be best if you were prepared to avoid any unpleasant surprises. nesto’s Land Transfer Calculator will help simplify your budgeting efforts for all the costs associated with your homebuying process.
Land Transfer Tax Calculator
What is Land Transfer Tax?
When the title of property (including the land on which it sits) is transferred to your name, you must pay a tax to the government after the transaction closes. The amount paid depends on the value of your property. nesto’s land transfer tax calculator will show you how much you expect to pay and why. In some provinces, you can expect provincial rebates as a first-time homebuyer (FTHB) which will greatly reduce the impact on your closing costs.
In certain parts of Canada, buyers may need to pay an additional municipal land transfer tax. For example, in Toronto, some municipalities of BC and the municipalities of Nova Scotia, there will be an additional land transfer tax. There are province-specific names for this title transfer levy; however, land transfer tax (LTT) seems to be the most commonly used in a few provinces.
The land transfer tax (LTT) payment on your purchase cannot be included in your mortgage and must be arranged for payment to the different level(s) of government through your solicitor, who is completing your home purchase. It is important to note that the payment is a consideration at the time of title transfer to your name, which your solicitor also completes. Therefore, it is the responsibility of your solicitor to confirm the details of all taxes related to the transfer of title, including Land Transfer Tax (LTT), Municipal Land Transfer Tax (MLTT), Harmonized Sales Tax (HST) as may be applicable on a new build, Non-Resident Speculation Tax (NRST), and the Provincial Sales Tax (PST) on any high-ratio default insurance if applicable in the case of your purchase.
How to estimate Land Transfer Tax
Land Transfer Tax (LTT) rates vary from one province to another. They are calculated based on the purchase price of your property, as well as the location. Some provinces and, in some cases, a few municipalities will have their Land Transfer Tax (LTT). Visit your provincial/municipal government website to determine the rate that applies to you.
Generally, you should budget anywhere from 1% to 2% of property value to cover your Land Transfer Taxes (LTT). However, to be exact, you should check with your solicitor to be sure of the amount you should budget for your situation.
How to use the Land Transfer Tax Calculator
You will need to input your subject property’s purchase price and answer questions about your first-time home buyer (FTHB) status and provincial residency. In the case that you’re not a resident of Canada, you should assume that you will pay the full amount – alongside any Non-resident speculation tax (NRST) and Harmonized Sales Tax (HST) in the case that it’s a newly built home or condominium.
Land Transfer Tax by Province
| Province / Territory | Land Transfer Tax (LTT) | Provincial and Municipal (LTT) Rates |
|---|---|---|
| BC | Property Transfer Tax | Up to $200,000: 1% $200,001 – $2,000,000: 2% $2,000,000+: 3% $3,000,000+ an additional 5% The additional PTT, which is region specific, is not municipal but rather an NRST with a tax rate of 20%: Capital Regional District Fraser Valley Regional District Metro Vancouver Regional District Regional District of Central Okanagan Regional District of Nanaimo |
| AB | Land Titles Transfer Fee | Property Value – $50 base + $2 per $5,000 Mortgage Amount – $50 base + $1.50 per $5,000 |
| SK | Land Titles Transfer Fee | Up to $500: $0 $501 – $8,400: $25 $8,401+: 0.30% of property value |
| MB | Land Transfer Tax | Up to $30,000: 0% $30,001 – $90,000: 0.5% $90,001 – $150,000: 1% $150,001 – $200,000: 1.5% $200,000+: 2% |
| ON | Land Transfer Tax | Up to $55,000: 0.5% $55,001 – $250,000: 1% $250,001 – $400,000: 1.5% $400,001 – $2,000,000: 2% $2,000,000: 2.5% Toronto has a Municipal LTT equal to that of Ontario’s LTT. |
| QC | Property Transfer Duties | Up to $55,200: 0.5% $53,200 – $276,200: 1% $276,200+: 1.5% Municipalities can set a rate higher than 1.5% on any bracket over $500,000. However, the rate cannot go above 3%. These brackets are applicable for 2023; each year, the tiers are updated based on inflation measured via Quebec CPI. Special provisions for Montreal (may apply to some boroughs as well) allow for the following Property Transfer Duties Rates; consult the city’s website for updated rates. The following applies to purchases & transfers in 2023. 0.5% on the first $55,200 1% on the portion from $55,200 to $276,200 1.5% on the portion from $276 200 to $552,300 2% on the portion from $552,300 to $1,104,700 2.5% on the portion from $1,104,700 to $2,136,500 3.5% on the amount exceeding $2,136,500 to $3,113,000 4% on amounts over $3,113,000 Property Transfer Duties are called the “Welcome Tax” for hospitality reasons, but because the Minister of Municipal Affairs who instituted it was named Jean Bienvenue. |
| NB | Real Property Transfer Tax | 1% of the property’s assessed value |
| NL | Registration of Deeds Prescribed Fees | Property Value – $100 base on first $500 + $0.40 per $100 Mortgage Amount – $100 base on first $500 + $0.40 per $100 |
| NS | Provincial Deed Transfer Tax | 5% applicable on the whole or proportional value of the property value for any non-residents of Nova Scotia Additionally, every municipality charges & collects 0% to 1.5% of the Municipal DTT amount (unlisted are 0%). |
| PEI | Real Property Transfer Tax | 1% of the property value No tax on property valued lower than $30,000 |
| YT | Land Titles Fees | Property Value Up to $100,000: $50 $100,000 – $499,999: $150 $500,000 – 2,999,999: $350 $3,000,000 – $9,999,999: $550 $10,000,000+: $750 Mortgage Amount Up to $100,000: $50 $100,000 – $499,999: $100 $500,000 – 999,999: $200 $1,000,000 – $4,999,999: $400 $5,000,000 – $9,999,999: $600 $10,000,000 – $19,999,999: $800 $20,000,000+: $1,000 The assurance fund fee is $20 for the 1st $10,000, plus $10 for each $10,000 or portion thereof, of additional declared value since the last transfer was registered or title was issued. |
| NWT | Land Title Fees | Property Value Up to $1,000,000: $1.50 per $1000 (minimum $100) Greater than $1,000,000: base $1500 plus $1 per $1000 Mortgage Amount $1 for every $1000 (minimum $80) |
| NT | Land Titles Tariffs | Property Value Up to $1,000,000: $1.50 per $1000 (minimum $60) Greater than $1,000,000: base $1500 plus $1 per $1000 Mortgage Amount $1 for every $1000 (minimum $40) |
Other Taxes & Rebates by Province
Along with all the land transfer taxes and fees that apply to your purchase based on your province or territory – a further Harmonized Sales Tax (HST) or Goods & Services Tax (GST) will also apply if you purchase a newly constructed home that was not previously owned. You may qualify for the partial rebate on the federal amount, with an additional rebate through the province where the property is located.
| Province / Territory | Non-Resident Speculation Tax (NRST) | Provincial Sales Tax (PST) on Default Insurance | LTT Rebates |
|---|---|---|---|
| BC | Yes – 20% Additional PTT in region-specific applies to all non-residents of Canada. | No | BC FTHB Exemption is 100% of the PTT for properties up to $500K BC Newly Built Home Exception is 100% on the PTT for up to $750K PTT Exemptions for First Nations |
| AB | No | No | No |
| SK | No | Yes – 6% | Exceptions apply for property value of $8,800 or less. |
| MB | No | Yes – temporarily postponed as part of COVID-19 measures. | No |
| ON | Yes – 25% Non-Resident Speculation Tax (NRST) applies to purchases of any residential property anywhere in the province to all non-residents of Canada. | Yes – 8% | Provincial LLT Refund of max up to $4000. Toronto MLTT Refund max up to $4475. Other Toronto Rebate Opportunities. |
| QC | No | Yes – 9% | None provincially, but Montreal has a Homebuyer Assistance Program (HBAP) that provides rebates for FTHB and new constructions in Montreal and boroughs. Additionally, there are exemptions through other Rights based on the CCQ. |
| NB | No | No | No |
| NL | No | No | No |
| NS | Yes – 5% Provincial Deed Transfer Tax | No | PDTT is fully refundable to any who make Nova Scotia province of residence within 6 months from their purchase date. |
| PEI | No | No | FTHB Exemption on the RPTT for provincial residents 6 months before the date of purchase. Other Exceptions on the RPTT |
| YT | No | No | No |
| NWT | No | No | No |
| NT | No | No | No |
Canada Rebates, Incentives and Grants
The Government of Canada provides various rebates, incentives and grants in conjunction with the provinces and territories. Canada Housing and Mortgage Corporation (CMHC) has outlined these programs on its website. Although the homebuying journey and costs can be overwhelming, our goal at nesto is to simplify it for you here. Click on each link to understand each program in detail for its suitability to your homebuying needs – and see if you qualify.
The First-Time Home Buyer Incentive (FTHBI) helps first-time homebuyers without adding to their financial burdens. Eligible first-time homebuyers with the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with the Government of Canada.
The First-Time Home Buyers Tax Credit (HTBC) offers a $10,000 non-refundable income tax credit on a qualifying home acquired during the year. The credit will provide up to $1,500 in federal tax relief for an eligible individual.
The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $35,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or a related person with a disability.
GST/HST New Housing Rebate provides a refund on the part of the GST or HST that you paid on the purchase price or cost of building your new house, on the cost of substantially renovating or building a major addition to your existing house, or on converting a non-residential property into a house.
The Canada Greener Homes grants are helping Canadian homeowners across the country improve the energy efficiency of their homes and reduce their energy bills. Eligible homeowners can receive grants to make energy-efficient retrofits to their homes.
How nesto works
At nesto, all of our commission-free mortgage experts hold professional designations from one or more provinces concurrently. Our clients will receive the best advice and care when they speak with specialists that exceed the industry status quo.
Unlike the industry norm, our agents are not commissioned but salaried employees. This means you’ll get free, unbiased advice on the most suitable mortgage solution for your unique needs. Our advisors are measured on the satisfaction and quality of advice they provide to their clients.
nesto’s working hard to change how the mortgage industry functions. We start with honest and transparent advice, followed by our best rates upfront. We can offer you these best rates by using technology by providing a virtual and 100% online process to reduce our overhead costs.
By working remotely across Canada, all our mortgage experts and staff spend less time commuting to work and more time with their friends and family. This makes for more dedicated employees and, in turn, contributes to our success with happy and satisfied clients.
nesto is on a mission to offer a positive, empowering and transparent property financing experience, simplified from start to finish.