Land Transfer Tax Calculator
Looking to calculate your land transfer tax in Alberta? 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.
Land transfer tax (LTT) is one of the largest fees associated with the closing of your home, often overlooked when calculating your total purchase amount. There may be several fees and closing costs related to transferring the property from seller to buyer. It would be best if you prepared to avoid any unpleasant surprises.
Most provinces charge a land transfer tax which will be by homebuyers. But, in Alberta, buyers pay a less costly fee known as a land title transfer fee.
nesto’s Land Transfer Calculator will help simplify your budgeting efforts for all the costs associated with your homebuying process.
Alberta land transfer tax calculator
Land transfer tax rates in Alberta
The Land transfer tax (LTT), known provincially as Land Titles Transfer Fee in Alberta, is calculated based on the purchase price of your property as well as the mortgage that you place on this property on your closing.
Alberta Land Titles Transfer Fee (LTT)
|Per $5000||$2/ $5000 + $50 base|
|Per $5000||$1.50/ $5000 + $50 base|
Note: You may use our Land Transfer Calculator to estimate your required land transfer tax for Alberta; however, the final value must be confirmed with your solicitor.
Alberta Land Title Transfer (LTT) Fee Rebate
Alberta does not offer first-time home buyers land title transfer fee rebates or exemptions.
Municipal Land Title Transfer (LTT) Fee
Calgary and Edmonton do not have any municipal land title transfer fees at this time. As such, they also do not offer any rebates or exemptions.
Alberta & Federal Taxes, Rebates and Regulations
Alberta has the most simplified and lowest land transfer taxes of all provinces; in tandem, it does not offer any provincial rebates. Please review in detail to see if these additional taxes impact you. We have included links to the taxes and additional links if any programs exist for rebates.
The federal government announced a measure to prohibit non-Canadians from purchasing residential property in Canada for 2 years in Budget 2022. The legislation known as the Prohibition on the Purchase of Residential Property by Non-Canadians Act was passed on June 23, 2022. This law will come into effect on January 1, 2023, for two years ending on December 31, 2025.
Goods and Services Tax (GST) of 5% is payable in Alberta on the construction or purchase of a newly constructed home. The amount of rebate you can receive for the GST Portion is 36% of the GST tax amount up to a maximum of $6,300. There is no PST in Alberta. You may be able to recover some of the GST paid through the federal government’s New Housing Rebate (NHR). You may be eligible for an exemption from paying this tax if you meet certain conditions if this home is your primary residence. Conversely, if you plan to rent out the newly built home, then you may be able to claim the GST as a legitimate business expense. As well as applying to the CRA for the second type of rebate designed for real estate investors, the New Residential Rental Property Rebate (NRRPR).
Calgary Attainable Homes Program allows successful applicants to contribute $2,000 towards the downpayment of their homes. This is a shared equity, therefore, if the homeowner sells their home, the value growth is split between the owner and the program. Applicants must also choose from a pre-selected list of properties. The longer the homeowner lives in the house, the less they need to pay back.
Alberta Property Taxes
Property tax is a levy based on the property’s assessed value payable to your municipality per their schedule.
The Assessment Audit Unit reviews the assessment procedures of municipalities to see that they are consistent with assessment legislation. The unit reviews the property assessment reports of municipalities each year to determine that the regulated standards have been met for assessment quality.
Click on your municipality below for more details on tax rates, payment schedules and contact information.
|Calgary||Edmonton||Fort Saskatchewan||Lethbridge||Airdrie||Fort McMurray||Medicine Hat|
|Grande Prairie||Okotoks||Lloydminster||Cochrane||Leduc||Spruce Grove||Red Deer|
How nesto works
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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.
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nesto is on a mission to offer a positive, empowering and transparent property financing experience, simplified from start to finish.