Mortgage Land Transfer Tax Calculator
If you’re in the market for a home you may have heard of land transfer tax (LTT). This fee varies depending on the province or territory in which the property is located. Land transfer taxes can be a significant amount due upfront so you’ll want to ensure you set aside enough to cover this additional closing cost.
This is where our land transfer tax calculator comes in. Our calculator is an easy-to-use tool that will assist you in calculating the land transfer taxes you will owe on your home purchase as well as account for any exemptions or rebates that may be available. Just input a few details and our LTT calculator will do the work.
Key Takeaways
- Land transfer tax is a fee payable to the provincial or territorial government when purchasing a property in Canada.
- Some provinces and municipalities offer rebates or exemptions for first-time homebuyers (FTHB).
- A land transfer tax calculator can help determine the amount owed based on the property location and purchase details.
Understanding Land Transfer Tax in Canada
When you purchase a property, the title including the land that the property is on is transferred into your name. To do this a tax is charged payable to the provincial or territorial government once the transaction closes. The amount owed is usually a percentage or set amount based on the purchase price.
The LTT you pay cannot be included in your mortgage so you must set aside savings to pay the amount owed to the provincial government or municipality. Payments are collected by your solicitor when completing your home purchase. It is the responsibility of your solicitor to confirm and collect all taxes related to the transfer of title, as well as any additional federal or provincial taxes that may be applicable
In some municipalities, homebuyers may need to pay an additional land transfer tax that is payable to the municipality in which the home is located. Some provinces and municipalities offer a rebate on the taxes you pay for first-time buyers which will reduce or eliminate the land transfer taxes payable.
How to Use the Land Transfer Tax Calculator
The land transfer tax calculator tool allows you to input the details of the home you wish to purchase and then calculates how much you will pay in land transfer taxes based on your mortgage amount and location.
The LTT calculator is easy to use and can help potential homebuyers calculate the total land transfer taxes they will need to budget for. To get started you’ll need to provide the purchase or asking price of the home, the downpayment amount, and the province in which the home is located.
Purchase Price: Enter the purchase or asking price of your property.
Province: Select the province in the drop-down where your property is located.
First-time Home Buyer: Toggle this to yes if you are considered a first-time homebuyer.
Owner Occupied: Toggle this to yes if you intend to live in the home.
New Construction: Toggle this to yes if the home is a new build.
Land Transfer Tax: The value returned is the total payable land transfer tax based on your inputs.
Provincial: The value returned is the total provincial land transfer taxes owed based on your inputs.
Municipal: The returned value is the total municipal land transfer taxes owed based on your inputs.
Rebate: The value returned is the amount of eligible land transfer tax rebates based on your inputs.
Helpful Calculator Tips –
Location – Some provinces will have an additional drop-down to select the area the home is located in. This field will account for any additional municipal land transfer tax payable in those locations.
How to Calculate Your Land Transfer Tax
Land transfer tax calculations are based on the purchase price of the property and the location. To illustrate this in an example, say you are looking to purchase a $500,000 home in Ontario and Quebec.
To calculate land transfer tax owed in Ontario:
$55,000 x 0.005 = $275
$195,000 x 0.01 = $1,950
$150,000 x 0.015 = $2,250
$100,000 x 0.02 = $2,000
$275 + $1,950 + $2,250 + $2,000 = $6475
The land transfer tax owed for a $500,000 purchase in Ontario would be $6475.
To calculate land transfer tax owed in Quebec:
$55,200 x 0.005 = $276
$221,000 x 0.01 = $2,210
$223,800 x 0.015 = $3,357
$276 + $2,210 + $3,357 = $5,843
The land transfer tax owed for a $500,000 purchase in Quebec would be $5,843*.
*Note: Quebec’s tax is based on each municipality and the rates that correspond to their property price tier(s) – calculation may differ based on the municipality where the home is located.
How to Use the Land Transfer Tax Calculator to Your Advantage
The land transfer tax calculator is a great tool to estimate the cost of land transfer tax for your home purchase. The amount cannot be included as part of your mortgage so you will need to budget for this additional expense as part of your closing costs. Use our handy calculator to help set aside some of your budget for this expense that will be due in full upon closing.
Using our calculator could be advantageous in budgeting for the taxes and other costs involved in your homebuying process. As well, it could help you decide on the best purchase price to minimize the land transfer taxes you may need to pay. You could also adjust your needs to maximize your rebates. For instance, buying a newly built home in BC could double your rebate if you’re also an FTHB.
Provincial Considerations
Some provinces use province-specific names instead of calling it a land transfer tax. Additionally, in certain parts of Canada, there may be a municipal land transfer tax instead of a provincial tax or there may be both a provincial and municipal tax owed in some municipalities.
- Ontario
- Quebec
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland
- Northwest Territories
- Nova Scotia
- Nunavut
- Prince Edward Island
- Saskatchewan
- Yukon
Ontario
Ontario (ON) charges Land Transfer Tax (LTT) that is payable to the province when the transaction closes. This tax is calculated on the purchase price or based on the fair market value of the home.
Ontario also has an additional Non-Resident Speculation Tax (NRST) that applies to foreign nationals purchasing or acquiring an interest in a residential property anywhere in the province. The rate is currently set at 25% and is in addition to the land transfer tax, alongside the 15% charged for HST on newly built homes.
Toronto has an additional Municipal Land Transfer Tax (MLTT) that mirrors the Ontario land transfer tax and is payable in addition to the Ontario land transfer tax when purchasing a home in the City of Toronto.
| Amount | Tax Rate |
|---|---|
| Amounts up to and including $55,000 | 0.5% |
| Amounts exceeding $55,000, up to and including $250,000 | 1.0% |
| Amounts exceeding $250,000, up to and including $400,000 | 1.5% |
| Amounts exceeding $400,000 | 2% |
| Amounts exceeding $2,000,000 where the land contains one or two single-family residences | 2.5% |
Quebec
Quebec (QC) collects Property Transfer Duties also casually known as Welcome Tax. Every municipality collects duties on the transfer of property based on a set of criteria. However, municipalities can make a by-law that sets rates higher than 1.5% but cannot exceed 3% (with the exception of Montreal) on properties over $500,000.
| Amount | Tax Rate |
|---|---|
| Amount that does not exceed $55,200 | 0.5% |
| Amounts exceeding $55,200 but not exceeding $276,200 | 1.0% |
| Amounts exceeding $276,200 | 1.5% |
Montreal has additional tax brackets which may also apply to some surrounding boroughs. These rates are based on value brackets that change every year. The following apply for 2023.
| Amount | Tax Rate |
|---|---|
| Amount that does not exceed $55,200 | 0.5% |
| Amounts exceeding $55,200 but not exceeding $276,200 | 1% |
| Amounts exceeding $276,200 but not exceeding $552,300 | 1.5% |
| Amounts exceeding $552,300 but not exceeding $1,104,700 | 2% |
| Amounts exceeding $1,104,700 but not exceeding $2,136,500 | 2.5% |
| Amounts exceeding $2,136,500 but not exceeding $3,113,000 | 3.5% |
| Amounts exceeding $3,113,000 | 4% |
British Columbia
British Columbia (BC) charges a Property Transfer Tax (PTT) that is based on the fair market value of the property on the day it was registered. There are three tax rates: the general property transfer tax, an additional 2% tax on residential properties over $3,000,000, and an additional property transfer tax for foreign nationals.
The additional property transfer tax for foreign nationals is 20% and applies to the following regions:
- Capital Regional District
- Fraser Valley Regional District
- Metro Vancouver Regional District
- Regional District of Central Okanagan
- Regional District of Nanaimo
| Amount | Tax Rate |
|---|---|
| Amount up to and including $200,000 | 1% |
| Amounts exceeding $200,000 but not exceeding $2,000,000 | 2% |
| Amounts exceeding $2,000,000 | 3% |
| $3,000,000+ | 5% (3% + an additional 2%) |
Alberta
Alberta (AB) collects a Land Titles Transfer Fee that charges two fees. One is charged on the transfer and leaseholder title and the other is charged on the mortgage amount.
| Type | Fee |
|---|---|
| Transfers and Leasehold Titles | $50 + $2 per each $5,000 |
| Mortgages and Encumbrances | $50 + $1.50 per each $5,000 |
Saskatchewan
Saskatchewan (SK) has a Land Titles Transfer Fee payable on the purchase price of the property.
| Amount | Fee |
|---|---|
| Amount up to and including $500 | $0 |
| $501 to $8,400 | $25 |
| $8,401 and greater | 0.3% of the property value |
Manitoba
Manitoba (MB) collects a Land Transfer Tax (LTT) calculated based on the fair market value of the property on the date of registration of a transfer of title.
| Amount | Tax Rate |
|---|---|
| Amount up to and including $30,000 | 0% |
| Amounts exceeding $30,000 but not exceeding $90,000 | 0.5% |
| Amounts exceeding $90,000 but not exceeding $150,000 | 1.0% |
| Amounts exceeding $150,000 but not exceeding $200,000 | 1.5% |
| Amounts exceeding $200,000 | 2.0% |
New Brunswick
New Brunswick (NB) has a Real Property Transfer Tax (RPTT) that is calculated based on the greater of either the consideration for the transfer or the assessed value of the real property.
| Amount | Tax Rate |
|---|---|
| Any amount | 1% |
Newfoundland and Labrador
Newfoundland and Labrador (NL) collects a Registration of Deeds that charges two fees. One is on the value of the property and the second is on the mortgage amount.
| Type | Fee |
|---|---|
| Value of the Property | $100 on the first $500 + $0.40 per $100 exceeding that amount |
| Mortgage Amount | $100 on the first $500 + $0.40 per $100 exceeding that amount |
Nova Scotia
Nova Scotia (NS) does not have a provincial land transfer tax. Instead, each municipality collects a Municipal Deed Transfer Tax (MDTT) based on the sales price of the property. The MDTT ranges from 0 to 1.5% based on the municipality.
Nova Scotia charges a Provincial Non-Resident Deed Transfer & Property Tax (PDTT) for non-residents. The PDTT is a 5% tax on the purchase price or assessed value of the property whichever is greater.
Prince Edward Island
Prince Edward Island (PEI)charges a Real Property Transfer Tax (RPTT) that is based on the greater of the purchase price or the property or the assessed value of the property.
| Amount | Tax Rate |
|---|---|
| Amount up to and including $30,000 | 0% |
| Amount greater than $30,000 | 1% on the full property value |
Northwest Territories
Northwest Territories (NWT) collects a Land Title Fee that is made up of two separate charges. One is based on the value of the land and the other is based on the mortgage amount.
| Type | Fee |
|---|---|
| Value of the Property less than or equal to $1,000,000 | $2 for each $1,000 of value ($100 minimum) |
| Value of the Property greater than $1,000,000 | $2,000 + $1.50 for each $1,000 of value in excess of $1,000,000 |
| Mortgage Amount | $1.50 for each $1,000 of value ($80 minimum) |
Nunavut
Nunavut (NU) collects a Land Titles Tariff made up of two separate charges. One is based on the property value and the second is based on the mortgage amount.
| Type | Fee |
|---|---|
| Land value less than or equal to $1,000,000 | $1.50 for each $1,000 of value ($60 minimum) |
| Land value greater than $1,000,000 | $1.50 for each $1,000 of value up to $1,000,000 and $1 for each $1,000 of value after that |
| Mortgage Amount | $1 for each $1,000 of the principal amount ($40 minimum) |
Yukon
The Yukon Territory (YT) charges Land Titles Fees broken down into 3 charges. Two of the fees are based on the property value while the third is based on the mortgage amount.
| Property Value – Amount | Fee |
|---|---|
| Declared value less than $100,000 | $50 + assurance fund fee |
| Declared value of $100,000 or greater but less than $500,000 | $150 + assurance fund fee |
| Declared value of $500,000 or greater but less than $3,000,000 | $350 + assurance fund fee |
| Declared value of $3,000,000 or greater but less than $10,000,000 | $550 + assurance fund fee |
| Declared value of $10,000,000 or greater | $750 + assurance fund fee |
| Assurance Fund Fee – Amount | Fee |
|---|---|
| Amount up to and including $10,000 | $20 |
| Amounts exceeding $10,000 | $10 for each $10,000 or portion of additional declared value since the last transfer was registered or title was issued |
| Mortgage Amount | Fee |
|---|---|
| Value is less than $100,000 | $50 |
| Value is $100,000 or greater but less than $500,000 | $100 |
| Value is $500,000 or greater but less than $1,000,000 | $200 |
| Value is $1,000,000 or greater but less than $5,000,000 | $400 |
| Value is $5,000,000 or greater but less than $10,000,000 | $600 |
| Value is $10,000,000 or greater but less than $20,000,000 | $800 |
| Value is $20,000,000 or greater | $1,000 |
Other Tax Incentives and Rebates in Canada
Some provinces provide tax incentives or rebates on all or a portion of the land transfer tax payable if you meet the qualifying criteria.
| Province/Territory | LTT Rebates |
|---|---|
| BC | FTHB Exemption – Rebates available on the PTT for properties up to $525,000 Newly Built Home Exemption – Reduces or eliminates the PTT when you purchase a qualifying newly built home. PTT exemption for First Nations |
| ON | LTT Refund for First-Time Homebuyers – Rebate up to $4,000 for qualifying first-time buyers. MLTT Rebate – Rebate of up to $4,475 for qualifying first-time buyers in Toronto. |
| QC | Home Purchase Assistance Program – Provides financial assistance between $5,000 to $15,000 to first-time buyers and experienced buyers with some restrictions. |
| NS | PDTT exemptions apply in some circumstances. |
| PEI | RPTT First-Time Home Buyers Exemption – RPTT is waived for qualifying first-time homebuyers. RPTT Exemptions – Additional tax exemptions may apply. |
Frequently Asked Questions
What is the cost of land transfer tax in Canada?
The cost of land transfer tax in Canada varies based on the province or territory where the property is being purchased. Some municipalities also charge an additional land transfer tax that is in addition to any provincial portion of the land transfer tax owed. Some provinces and municipalities provide rebates or exemptions on all or parts of the land transfer tax.
Is land transfer tax (LTT) tax deductible?
Land transfer tax is not tax deductible. However, some provinces and municipalities offer exemptions or rebates on all or parts of the land transfer tax you must pay. Check with the province or municipality where your property is located to see if you may qualify for any rebates offered.
What is the foreign buyers’ tax?
A foreign buyers’ tax is an additional tax levied on foreign buyers when purchasing property in certain provinces or municipalities. Ontario has a 25% tax applicable to anyone who is not a Canadian citizen or permanent resident when purchasing property in Ontario. BC has a 20% tax applicable to anyone who is not a Canadian citizen or permanent resident when purchasing a property in certain regions of the province.
Nova Scotia charges any provincial non-resident a non-resident Deed Transfer Tax applicable to anyone that does not currently reside in the province.