Ontario Provincial Land Transfer Tax
The following marginal tax rates apply to properties purchased after January 1, 2017:
- Up to and including $55,000 0.5%
- Exceeding $55,000, up to $250,000 1.0%
- Exceeding $250,000, up to $400,000 1.5%
- Exceeding $400,000, up to $2,000,000 (for single-family residences) 2.0%
- Exceeding $2,000,000 (for single-family residences) 2.5%
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Toronto Municipal Land Transfer Tax (MLTT)
If the property is in Toronto, the MLTT is calculated using similar tiered rates and is in addition to the provincial tax. You must also account for first-time homebuyer rebates if you wish to provide an accurate net total.
