Land Transfer Tax
The following chart reflects the implementation of the municipal land transfer tax. Both Ontario and Toronto taxes are payable by the Buyer through their lawyer upon closing of the transaction. Note that if the property is in the City of Toronto, the Buyer will have to pay the Total LTT – anywhere else in the GTA, only Ontario LTT is payable
First time Buyers do not pay the city of Toronto tax on the first $400,000 of a property purchase.
| Home Value | Ontario LTT | Toronto LTT | Total LTT |
| $ 100,000.00 | $ 725.00 | $ 725.00 | $ 1,450.00 |
| $ 150,000.00 | $ 1,225.00 | $ 1,225.00 | $ 2,450.00 |
| $ 200,000.00 | $ 1,725.00 | $ 1,725.00 | $ 3,450.00 |
| $ 250,000.00 | $ 2,225.00 | $ 2,225.00 | $ 4,450.00 |
| $ 300,000.00 | $ 2,975.00 | $ 2,725.00 | $ 5,700.00 |
| $ 350,000.00 | $ 3,725.00 | $ 3,225.00 | $ 6,950.00 |
| $ 400,000.00 | $ 4,475.00 | $ 3,725.00 | $ 8,200.00 |
| $ 450,000.00 | $ 5,475.00 | $ 4,725.00 | $10,200.00 |
| $ 500,000.00 | $ 6,475.00 | $ 5,725.00 | $12,200.00 |
| $ 550,000.00 | $ 7,475.00 | $ 6,725.00 | $14,200.00 |
| $ 600,000.00 | $ 8,475.00 | $ 7,725.00 | $16,200.00 |
| $ 650,000.00 | $ 9,475.00 | $ 8,725.00 | $18,200.00 |
| $ 700,000.00 | $ 10,475.00 | $ 9,725.00 | $20,200.00 |
| $ 750,000.00 | $ 11,475.00 | $ 10,725.00 | $22,200.00 |
| $ 800,000.00 | $ 12,475.00 | $ 11,725.00 | $24,200.00 |
| $ 850,000.00 | $ 13,475.00 | $ 12,725.00 | $26,200.00 |
| $ 900,000.00 | $ 14,475.00 | $ 13,725.00 | $28,200.00 |
| $ 950,000.00 | $ 15,475.00 | $ 14,725.00 | $30,200.00 |
| $1,000,000.00 | $ 16,475.00 | $ 15,725.00 | $32,200.00 |
The formula for calculating Ontario Land Transfer Tax is:
0.5% on the first $55,000
Plus 1% of the amount from $55,001 to $250,000
Plus 1.5% of the amount in excess of $250,001 to $400,000
Plus 2% of the amount in excess of $400,000
The formula for calculating Toronto Land Transfer is:
0.5% on the first $55,000
Plus 1% of the amount from $55,001 to $400,000
Plus 2% of the amount in excess of $400,000
