Land Transfer Tax Calculator
Looking to calculate your land transfer tax in Saskatchewan? 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 most significant fees associated with closing 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 homebuyers will pay. But, in Saskatchewan, 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.
Saskatchewan land transfer tax calculator
Land transfer tax rates in Saskatchewan
The Land transfer tax (LTT), known provincially as Land Titles Transfer Fee in Saskatchewan, is calculated based on the purchase price of your property.
Saskatchewan Land Titles Transfer Fee (LTT)
|Up to $500||0|
|$500.01 – $6,300||$25|
Note: You may use our Land Transfer Calculator to estimate your required land transfer tax for Saskatchewan; however, the final value must be confirmed with your solicitor.
Saskatchewan Land Title Transfer (LTT) Fee Rebate
Currently, Saskatchewan does not offer first-time home buyers land title transfer fee rebates or exemptions.
Municipal Land Title Transfer (LTT) Fee
Regina and Saskatoon do not have any municipal land title transfer fees. As such, they also do not offer any rebates or exemptions.
Saskatchewan & Federal Taxes, Rebates and Regulations
Saskatchewan has the most simplified and lowest land transfer taxes. 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 Saskatchewan on the construction or purchase of a newly constructed home. 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).
PST Rebate for New Home Construction provides a rebate of up to 42% of the PST paid on the purchase of a new, previously unoccupied home (newly-constructed home), where the purchaser takes possession of the home after March 31, 2020, and before April 1, 2023, or meets all of the following criteria:
- There is a signed contract for purchasing a home before April 1, 2023.
- The construction phase defined in the bulletin as “new housing start” is complete before April 1, 2023.
- The purchaser takes possession before April 1, 2024.
The rebate is available on newly-constructed homes with a total price of less than $450,000. The rebate amount is reduced for homes with a total price between $350,000 and $450,000, with no rebate available for newly-constructed homes with a total price of $450,000 or more.
Provincial Sales Tax (PST) of 6% is collected in Saskatchewan by your solicitor on the amount of your default (high ratio) mortgage insurance. An insured mortgage is qualified as such when your down payment is less than 20%. Therefore, you will need to purchase default (high ratio) insurance. Although this insurance is added to your mortgage, the taxes (PST) on purchasing this insurance are not. Your solicitor will collect and remit the PST on behalf of the default (high ratio) insurer (CMHC, Sagen, or Canada Guaranty) upon closing.
Saskatoon Mortgage Flexibilities Support Program offers qualifying home buyers a 5% down payment grant to purchase a house. Applicants must have an income of less than $69,975 per person and up to $88,635 for a large family of 5. They must also have a maximum net worth of less than $25,000. Successful applicants must apply for the grant to a pre-selected pool of properties.
Saskatchewan Property Taxes
Property tax is a levy based on the property’s assessed value, payable to your municipality per their schedule.
SAMA is an independent agency that provides a quality property assessment system for Saskatchewan.
Click on your municipality below for more details on tax rates, payment schedules and contact information.
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