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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.
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.
| Province | LTT | Calculation |
|---|---|---|
| Alberta | Registration Fee | Transfer of Land or Transfer of Leasehold Title is equal to $50 + $2 of every $5000 of the value. Extra title(s) affected is $15.00 per title |
| British Columbia | Property Transfer Tax | The general property transfer tax rate is 1% of the fair market value up to and including $200,000. 2% of the fair market value greater than $200,000 and up to and including $2,000,000. It is 3% of the fair market value greater than $2,000,000. If the property has residential property worth over $3,000,000, a further 2% tax will be applied to the residential property value greater than $3,000,000. |
| Manitoba | Land Transfer Tax | The Manitoba land transfer tax is 0% on the first $30,000 of the home price, 0.5% on the next $60,000 ($30,001 to $90,000), 1.0% on the next $60,000 (i.e.$90,001 to $150,000), 1.5% on the next $50,000 (i.e. $150,001 to $200,000) and 2.0% on amounts in excess of $200,000 |
| Nova Scotia | Provincial Deed Transfer Tax | PDTT is 5% of purchase price or the assessed value of property, whichever is greater. The Municipal Deed Transfer Tax Rates are set by each Municipality. These can range from 1.0% to 1.5% depending on the rate prevalent in the municipality. |
| New Brunswick | Real Property Transfer Tax | The province of New Brunswick charges 1% of the purchase price of the property or the value determined for the property by assessment, whichever is greater. |
| Northwest Territories | Land Transfer Title | For property valued at $1 million or less, the rate is $1.50 for each $1,000 of value or part thereof. There is a minimum fee of $100. For property valued at more than $1 million, the rate is $1,500, plus $1 for each $1,000 of value or part thereof in excess of $1 million (Source: CMHC) |
| Newfoundland and Labrador | Registration of Deeds Act | For properties under $500 a flat fee of $100 is charged by the province. For properties over $500, a flat fee of $100, plus 40 cents for every hundred dollars over $500. |
| Nunavut | Personal Property Registry | Nunavut does not charge a land transfer tax. It has a Personal Property Registry fees for a period of 1 to 25 years $10 plus $5 per year. For registration or renewal for an infinite time, fee is $400 and any amendment charge is $15. |
| Ontario | Land Transfer Tax | For house amounts up to and including $55,000, the tax rate is 0.5%. For amounts exceeding $55,000, up to and including $250,000, the tax rate increases to 1.0%. For amounts exceeding $250,000, up to and including $400,000, tax rate is 1.5% and for amounts exceeding $400,000 it is at 2.0%. For house prices exceeding $2,000,000, where the land contains one or two single family residences, the tax rate is 2.5%. |
| Prince Edward Island | Real Property Transfer Tax | Every person who tenders for property registration in Prince Edward Island, a deed shall, before the deed is registered, pay a tax computed at the rate of 1% of the greater of the consideration for the transfer and the assessed value of the real property. |
| Quebec | Property Transfer Duties | For the portion of the property value up to $55,200, the rate is 0.5%. For the portion of the property value exceeding $55,200 but not exceeding $276,200, the rate is 1%. For the portion of the property value exceeding $276,200, the rate is 1.5%. However, a municipality has the option to establish a higher rate, through a by-law, for any portion of the basis exceeding $500,000. This higher rate cannot exceed 3%, except in the case of Ville de Montréal. |
| Saskatchewan | Land Title Fee | Saskatchewan does not have a land transfer tax, however, it does have title transfer fee. In general, the Saskatchewan title transfer fee is 0.3% of the property's value. |
| Yukon | Land Titles Tariff | Yukon province requires the buyer to pay up three fee. The assurance fund fee is $20 for all applicable transactions up to $10,000 plus $10 for each $10,000, or portion thereof, of additional declared value since the last transfer. Second, the application fee to register a transfer and issue a certificate title is $50 for where the declared value of the land being transferred is less than $100,000, $150 for where the declared value of the land being transferred is $100,000 or greater and less than $500,000, $350 for where the declared value of the land being transferred is $500,000 or greater and less than $3,000,000, $550 for where the declared value of the land being transferred is $3,000,000 or greater and less than $10,000,000, and $750 for where the declared value of the land being transferred is $10,000,000 or greater.The last is title registration fee. |
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