25 October 2010
25 October 2010
Residential property:
Purchase price | LTT |
$0 – $55,000 | .005 х purchase price |
$55,001 – $250,000 | (.01 х purchase price) minus $275 |
$250,001 – $400,000 | (.015 х purchase price) minus $1,525 |
$400,000+ | (.02 х purchase price) minus $3,525 |
Commercial property:
Purchase price | LTT |
$0 – $55,000 | .005 х purchase price |
$55,001 – $250,000 | (.01 х purchase price) minus $275 |
$250,001+ | (.015 х purchase price) minus $1,525 |
Municipal Land Transfer Tax (MLTT). Toronto only.
Residential property:
Purchase price | MLTT |
$0 – $55,000 | .005 х amount plus |
$55,001 – $400,000 | .01 х amount plus |
$400,000+ | .02 х amount |
Commercial property:
Purchase price | MLTT |
$0 – $55,000 | .005 х amount plus |
$55,001 – $400,000 | .01 х amount plus |
$400,001 – $40,000,000 | .015 х amount plus |
$40,000,000+ | .01 х amount |
If you’re a first time home buyer then you have a chance to get certain LTT or MLTT rebates. That’s why it’s always necessary to consult a professional in order to find the best variant that will work for you.