LAND TRANSFER TAX
Land transfer tax is a tax paid by the purchaser, usually at the time the Transfer of the property is registered. The amount of Land Transfer tax is based on the purchase price of the house. i.e. ,
House Price Range and Land Transfer Tax Rate |
|||
$0 ‑ $55,000 |
0.5% | $250,001 ‑ $400,000 |
1.5% |
$55,001 ‑ $250,000 |
1.0% | Exceeding $400,001 |
2.0% |
This information is a brief summary for information purposes only and is applicable only in the Province of Ontario. It is not intended to be legal advice. Full and complete legal advice can only be given by a lawyer who has detailed information about your individual circumstances.
© 2007. Prouse Dash & Crouch, LLP. All Rights Reserved.
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