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Property Transfer Tax

Property Transfer Tax Fees for all Provinces in Canada

 

Property Transfer Tax also known as Land Transfer Tax is applicable in all provinces across Canada. Although Alberta , Nunavut , Northwest  Territories, Saskatchewan and  Yukon do not charge a transfer fee, they do have a fee for the value of the property and the mortgage amount.

Exceptions and rebates are applicable in British Columbia, Ontario and Prince Edward Island for qualified first time buyers. There are restrictions on transfer to immediate family members and Corporation/ Holding companies. For complete information contact you’re Provincial Government, tax accountant or a property lawyer. RateHouse Property Transfer Tax Calculator can help you get an approximate cost for your next purchase.

 

 

Property Transfer Tax or fees for each province with link to government web site:

 

Alberta Fee

  • Registration fee $50 +$1 per $5,000 for the value of the property transferred
  • Registration fee $50 +$1 per $5,000 on the mortgage amount to be registered

principalhttp://www.servicealberta.gov.ab.ca/pdf/ltmanual/APPENDIXI.pdf

 

British Columbia Land Transfer Tax

  • Tax 1% of the 1st $200,000, 2% of the amount over $200,000 of the value
  • 1st time home buyer will have an exemption on a purchase up to $425,000

http://www.sbr.gov.bc.ca/business/property_taxes/property_transfer_tax/tax_rates.htm

 

Manitoba

  • No fee on purchase/ transfer for 1st $30,000
  • Fee  purchase/ transfer for next $60,000 is 0.05%
  • Fee  purchase/ transfer for next $60,000 is 1.0%
  • Fee  purchase/ transfer for next $50,000 is 1.5%
  • Fee  purchase/ transfer in excess of $200,000  is 2.0%

http://www.gov.mb.ca/finance/landtransfertax.html

 

New Brunswick

  • .25% of the assessed value or the purchase price,  the greater amount  

 

 Newfoundland and Labrador

 

  •  Registration fee $100 + .4%  for value of the property in excess of $500
  • Registration fee $100 + .4%  for value of the mortgage in excess of $500

 

Northwest Territories

 

  •  Fee on purchase/ transfer for less  $1,000,000 is 1.50% for every $1000
  • Fee  purchase/ transfer for $1,000,000 plus is $1500 + $1per $1000
  • Fee  mortgage is $1 for every $1,000

 

Nova Scotia

  • 1.50% of the value or the property transfer.  

http://www.gov.ns.ca/snsmr/property/default.asp?mn=282.46.1064.1100

 

 Nunavut

 

  • Fee on purchase/ transfer for less  $1,000,000 is 1.50% for every $1000
  • Fee  purchase/ transfer for $1,000,000 plus is $1500 + $1per $1000
  • Fee  mortgage is $1 for every $1,000

 

Ontario

 

  • Tax  purchase/ transfer for 1st $55.000 is 0.05%
  • Tax  purchase/ transfer for next $195,000 is 1.0%
  • Tax  purchase/ transfer for next $150,000 is 1.5%
  • Tax purchase/ transfer in excess of $400,000 is 2.0%

http://www.rev.gov.on.ca/en/tax/ltt/rates.html

 

City of Toronto

 

  • Tax purchase/ transfer for 1st $55.000 is 0.05%
  • Tax  purchase/ transfer for next $345,000 is 1.0%
  • Tax purchase/ transfer in excess of $400,000 is 2.0%
  • Plus Ontario transfer tax

http://www.toronto.ca/taxes/mltt.htm

 

Prince Edward Island

  • 1.0% of the value or the property transferred.  

http://www.taxandland.pe.ca/index.php3?number=1012256

 

Quebec

 

  • Tax purchase/ transfer for 1st $50.000 is 0.5%
  • Tax  purchase/ transfer for $50,001 to $250,000 is 1.0%
  • Tax purchase/ transfer in excess of $250,000 is 1.5%

 http://www.gouv.qc.ca/portail/quebec/international/general/quebec/cout/loger/?lang=en

Saskatchewan Fee

 

  • No fee on purchase/ transfer of $500
  • Fee  purchase/ transfer for $501 to $8400 is $25
  • Fee  purchase/ transfer for $8400 and above is 0.3%

Yukon

 

  • Registration fee $29.25 +$.25 per $1,000 for the value of the property  excess of $25,000
  • Registration fee $42 +$.25 per $1,000 on the mortgage amount  registered excess of $50,000

http://www.justice.gov.yk.ca/prog/ls/lto/index.html

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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