The tax on the transfer of land in Ontario is determined as a percentage of the price paid for the property. The percentage is based on the worth that the home is worth. If properties are valued at more than $400,000, the tax rate is 1.5 percent and if less than $400000, then it is 0.5 percent.

What is Land Transfer Tax in Ontario?

Tax on land transfer is a tax of the province of Ontario which is imposed upon the purchase of property or interest on the land. Your tax is calculated according to the price paid by you for the property and by the buyer or you can use Ontario Land Transfer Tax Calculator here.

Calculate the land taxes on transfers in Ontario

The tax on the transfer of land is calculated as a percentage of the cost of purchasing the property. The amount varies based on the worth that the home is worth. If your property’s worth is less than $400,000, then tax rate will be 0.5 percentage. If the property is worth more than $400,000 the tax rate is 1.5 percent.