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.