Land Transfer Tax Calculator
Looking to calculate your land transfer tax in Yukon Territory? 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, as well as the territories, charge land transfer taxes or fees which homebuyers will pay. But, in Yukon Territory, buyers pay a less costly fee known as a land titles fee.
nesto’s Land Transfer Calculator will help simplify your budgeting efforts for all the costs associated with your homebuying process.
Land transfer tax rates in Yukon Territory
The Land transfer tax (LTT), known territorially as Land Titles Fee in the Yukon, is calculated based on your property’s purchase price and the mortgage you place on this property on your closing.
Yukon Territories Land Titles (LT) Fee
|Up to $100,000||$50|
|$100,000 – $499,999||$150|
|$500,000 – 2,999,999||$350|
|$3,000,000 – $9,999,999||$550|
|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|
Note: You may use the sample calculation below to estimate your required land transfer tax for Yukon Territory; however, the final value must be confirmed with your solicitor.
Sample Land Titles Fee Calculation
Let’s calculate your land titles fee in the Yukon if you purchase a home for $500,000 with a mortgage of $400,000.
The property portion is $350 on property values between $500,000 and $2,999,999.
The mortgage portion is $100 on mortgage balances between $100,000 and $499,999.
The total land titles fees are $450.
Yukon Territory Land Titles (LT) Fee Rebate
At this time, Yukon Territory does not offer first-time home buyers land title transfer fee rebates or exemptions.
Yukon Territory & Federal Taxes, Rebates and Regulations
Yukon Territory has very simple land titles fees. Please review in detail to see if these additional fees 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 Yukon Territory 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 are no provincial or retail taxes in the territories. 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).
Yukon Rural Home Ownership Loan Program is for people living in a Yukon community outside Whitehorse to help them buy or build a home. You’ll need at least 2.5% of the purchase price as a downpayment and have been previously declined by a bank to participate in this program. Check out in detail to see if this program suits your home-buying needs.
Yukon Funding and Loans offer various financial assistance programs to help build, improve and repair homes. Check out various program details for limitations and suitability.
Yukon Property Taxes
Property tax is a levy based on the property’s assessed value, payable to your municipality per their schedule.
Property Taxes are calculated with multiple existing and updated details for the property provided through the Property Assessment and Taxation.
Click on your municipality below for more details on tax rates, payment schedules and contact information.
How nesto works
At nesto, all of our commission-free mortgage experts hold professional designations from one or more provinces concurrently. We believe that 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.
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nesto is on a mission to offer a positive, empowering and transparent property financing experience, simplified from start to finish.
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