Canada Land Transfer Tax Calculator
Determine the mortgage land transfer tax you owe your province in Canada using our user-friendly calculator.
How to use our Land Transfer Tax Calculator
- Purchase price Start here by entering the amount you will be paying the seller to purchase a property.
- Address Enter the city in which your property is situated.
- First-Time Home Buyer If you are first time home buyer, make sure to select this section. You could be eligible for a steep discount in some provinces like Ontario.
- Total Land Transfer Tax This is the tax amount in cash you owe the province upon property purchase.
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What is a Land Transfer Tax Calculator?
In Canada, some provinces require you to pay a land transfer tax upon purchasing a property. It is the buyer, not the seller, who has to pay the provincial and municipal governments a stipulated tax amount on the purchase price of the property. The buyer registers a property transfer with the province and must pay a tax based on the value of the transaction.
The land transfer tax is referred differently in each province. For instance, Ontario and Manitoba refer to it as “Land Transfer Tax” while BC calls it the "Property Transfer Tax”, and Nova Scotia refers to it as “Municipal Deed Transfer Tax”.
Alberta, on the other hand, does not charge a land transfer tax, however, it charges a registration fee on transfer of land which is $50 plus an additional fee of $2 for every $5000 of the value of the land transfer.
Our Land Transfer Calculator will compute the exact amount you are liable to pay the province based on your property value and location. It is the easiest way to assess this expense and plan your mortgage better. Land Transfer Tax is one of the most important closing costs at the time of purchase and has to be paid upfront in cash, it cannot be a part of the mortgage to be paid over the period of amortization.
If you are a first-time home buyer, you are eligible for a rebate on land transfer tax in some provinces under the First-Time Home Buyer Incentive. For instance, in Toronto and Ontario, first-time homebuyers get a rebate on the land transfer tax which could help them save hundreds of dollars in closing costs.
How is Mortgage Land Transfer amount calculated?
Mortgage land transfer tax is calculated on the market value of the property and the location. Every province has a different rate and it is best to ask your solicitor about the rate that applies to you. You could also use our calculator to help you with the tax determination.
How can the Land Transfer Tax calculator help you?
- Closing costs estimate: A mortgage land transfer tax calculator can help you determine the closing costs for your property at the time of closing the deal. By using a calculator, you can get clarity on how much money you'll need to set aside for your final closing.
- Tax comparison: By entering different locations, you can see how the land transfer tax amount varies depending on the province. This can help you select the most affordable option that meets your needs.
- Planning for extra payments: By entering different purchase prices and locations, the calculator can show you the impact of these on your mortgage term and closing costs. This information can help you plan your finances and make informed decisions about your mortgage payments.
Shivani Kaul, Content manager
Shivani is a Content Manager at RATESDOTCA, focusing on mortgages. She is an experienced communication and marketing professional who specializes in content strategy and SEO optimization. Shivani ensures that our written materials meet the highest standards of quality and relevance.
She holds a Digital Marketing Management certificate from the University of Toronto, a Business Communications certificate from the University of British Columbia, a Masters degree in Mass Communication from Symbiosis Institute of Media and Communications and a Bachelor's degree in English from the University of Delhi.
Shivani has previously worked as a deputy digital productions editor with PMNA-The Canadian Press, and as an editor with The Globe and Mail, Toronto Star, and the Investor's Digest of Canada. She has also worked in reputed news media groups in India and the Middle East.
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