Land transfer tax
Land transfer tax calculator
Enter a price to see the Ontario land transfer tax, and Toronto's municipal land transfer tax if the home is in the City of Toronto, with first-time buyer refunds applied. Thornhill is north of Steeles Avenue, so Thornhill buyers pay the Ontario tax only.
The purchase
Thornhill, Vaughan, Markham and Richmond Hill are outside Toronto and pay only the Ontario tax. North York is inside the City of Toronto.
Generally, you have never owned a home anywhere in the world, you will live in this one, and you are 18 or older. Your lawyer confirms eligibility.
Land transfer tax payable
$16,475
Effective rate 1.65% of $1,000,000, Ontario only
| Portion of price | Rate | Taxed amount | Tax | ||
|---|---|---|---|---|---|
| First $55,000 | 0.5% | $55,000 | $275.00 | ||
| $55,000 to $250,000 | 1% | $195,000 | $1,950.00 | ||
| $250,000 to $400,000 | 1.5% | $150,000 | $2,250.00 | ||
| $400,000 to $2,000,000 | 2% | $600,000 | $12,000.00 | ||
| Provincial subtotal | Provincial subtotal | $16,475.00 | |||
- Tax before rebates
- $16,475.00
- Total payable on closing
- $16,475.00
Estimate only, for a residential purchase (one or two single family residences, including condos). It does not include the non-resident speculation tax or special cases such as partial interests. Rates and rebates can change; confirm the final figure with your real estate lawyer before closing. Planning the rest of your budget? Try the mortgage calculator.
Ontario and Toronto
How land transfer tax is worked out
Ontario charges land transfer tax on every purchase, in brackets, much like income tax: each slice of the price is taxed at its own rate. On a home in Thornhill, Vaughan, Markham or Richmond Hill, that is the only land transfer tax you pay.
Buy inside the City of Toronto, which includes North York, and the city charges its own municipal land transfer tax on top, using the same brackets up to $2,000,000 and higher rates above that. On a $1,000,000 home, the Ontario tax is $16,475; in Toronto the total is $32,950.
The tax is paid by your lawyer on closing, out of the funds you provide, so it has to come from savings rather than your mortgage. Plan for it with the mortgage calculator and talk to us early if you are weighing a Toronto address against York Region.
First-time buyer rebates
First-time buyers can get back up to $4,000 of the Ontario tax, which covers the whole tax on a home up to about $368,000. In Toronto there is a separate municipal rebate of up to $4,475.
In general you qualify if you are 18 or older, will live in the home within nine months of buying it, and have never owned a home, or an interest in one, anywhere in the world. A spouse who owned a home while married to you can affect eligibility. Your lawyer claims the rebate on closing.
Before you rely on the estimate
Ontario's tax applies everywhere in the province. Toronto's municipal tax applies only in the City of Toronto, which in our area means south of Steeles Avenue, including North York.
First-time buyers may get up to $4,000 back from Ontario and up to $4,475 from Toronto, if they qualify.
Estimates only; your lawyer calculates the final figure.
Good to know
Questions we hear
When is land transfer tax paid?
On closing, through your lawyer, when the transfer is registered. It cannot be added to your mortgage.
Who qualifies as a first-time buyer?
For Ontario's refund you must be at least 18 and must never have owned a home or an interest in a home anywhere in the world, and your spouse cannot have owned one while you were together, among other conditions. Toronto's rebate has similar rules. Your lawyer confirms eligibility.
Do I pay Toronto land transfer tax in Thornhill?
No. Thornhill is in York Region, split between Vaughan and Markham, so only the Ontario land transfer tax applies. The Toronto tax applies to homes inside the City of Toronto, including North York.
Is land transfer tax the same on a condo?
Yes. A condo unit is a single family residence for land transfer tax, so the same brackets and rebates apply. New construction can carry other closing costs, so read the agreement carefully.
Does this include the non-resident speculation tax?
No. Buyers who are not Canadian citizens or permanent residents may owe Ontario's non-resident speculation tax on top of land transfer tax. Ask your lawyer before you make an offer.
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