Calculate the Ontario land transfer tax on any home outside Toronto, and see how much the first-time buyer refund saves you.
Ontario land transfer tax rates
| Portion of the price | Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,000 to $250,000 | 1.0% |
| $250,000 to $400,000 | 1.5% |
| $400,000 to $2,000,000 | 2.0% |
| Over $2,000,000 (one or two single-family homes) | 2.5% |
Quick formula for homes between $400,000 and $2 million: price x 2% minus $3,525.
First-time buyer refund
Eligible first-time buyers get a refund of up to $4,000, which fully covers the tax on homes up to $368,333. To qualify you must be at least 18, a Canadian citizen or permanent resident, never have owned a home anywhere in the world, and move in within nine months.
Buying in Toronto?
Toronto adds its own municipal land transfer tax on top. Use the Toronto land transfer tax calculator.
FAQ
When do I pay it?
On closing day, when the deed is registered. Your lawyer collects it.
Is it deductible?
Not for a principal residence. For a rental property it is added to the property’s cost base.