The DiNunzio  Real Estate Group

The DiNunzio Real Estate Group

Real Estate Team

Royal LePage Your Community Realty, Brokerage*

Mobile:
647-400-0767
Office:
905-731-2000
Email Me
The DiNunzio  Real Estate Group

The DiNunzio Real Estate Group

Real Estate Team

Royal LePage Your Community Realty, Brokerage*

Mobile:
647-400-0767
Office:
905-731-2000
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated.
For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

647-400-0767

  

905-731-2000

  
 

WE SIMPLY LOVE discovering, managing, and selling remarkable properties to extraordinary people. It's important to understand that selling a home in today's market can pose challenges. However, despite the market's complexities, hundreds of homes are successfully sold each week. So, what distinguishes a successful home sale from a failed one? The answer lies in the details!

 

Whether it's our well-established sales approach, highly effective marketing campaigns, or our extensive network utilization, no detail is ever overlooked. We take immense pride in harnessing technology and innovation to maximize your property's exposure. We've crafted this guide to educate you as a Seller and empower you to make informed decisions when selecting the best team of brokers to market and sell your home.

 

When we proclaim that we are "redefining service in real estate," we genuinely mean it! People always come first, and this philosophy shines through in our work. We're here to educate you on the essential steps for a successful home sale. There are numerous components to a triumphant real estate transaction, and you can count on us to be there at every stage, ensuring no detail is overlooked. With a proven track record, the right skill set, and years of collective experience, we confidently assert that we possess the tools necessary to successfully sell your home.

 

Whether you're seeking a beautiful home or property for yourself or you're an investor in search of a fantastic high-end option, you can rest assured that we're dedicated to serving your interests. As a team of skilled communicators, artful negotiators, and experienced brokers, if you're truly committed to selling your home, we're equally committed to getting the job done.

 

- The DiNunzio Real Estate Group

 



Designation: RENE

Specialty: LUXURY HOMES • INVESTMENT ACQUISITIONS • RESIDENTIAL & CONDO SALES

Experience: 9 Years

Awards: Sales Achievement, Master Sales Award, President's Gold Award President’s Gold Award & Director's Platinum Award

Area Covered: York Region, Halton Region, Peel Region, Durham Region, Simceo Region & The Greater Toronto Area.