Land Transfer Tax Calculator

Land transfer tax (LTT) is something that is regularly overlooked when considering the cost of buying a home. The majority of provinces calculate the tax as a percentage of the property value, using the asking price as an estimate. However, home buyers in Toronto incur a municipal tax in addition to the Ontario land transfer tax.

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Land Transfer Tax Rebates

Land transfer tax rebates are offered for first-time home buyers in Ontario and the City of Toronto to help compensate for the extra cost.

Ontario Land Transfer Tax Refund for First-time Home Buyers

The Ontario land transfer tax rebate is equal to the land transfer tax or up to a maximum of $2,000.

To Qualify

To get the Ontario land transfer tax refund:

• The buyer must be older than 18 years
• The buyer must occupy the home as the principal residence within nine months of the date of transfer The buyer cannot have owned a home anywhere in the world
• The buyer’s spouse cannot have owned a home while being your spouse anywhere in the world
• The buyer must apply for a refund within 18 months after the date of the transfer
• The new home must be eligible for home warranty

Toronto Land Transfer Tax Refund for First-time Home Buyers

There is an additional municipal land transfer tax for first-time home buyers in Toronto of new and resale homes. Toronto’s land transfer tax applies within the boundaries of Etobicoke in the west, Steeles Avenue in the north, Scarborough in the east and Lake Ontario in the south. The Toronto land transfer tax rebate has a maximum refund of $3,725.

To Qualify

To get the Toronto land transfer tax refund:

• The buyer must be older than 18 years
• The buyer must occupy the home as the principal residence within nine months of the date of transfer The buyer cannot have owned a home anywhere in the world
• The buyer’s spouse cannot have owned a home while being your spouse anywhere in the world
• The buyer must apply for a refund within 18 months after the date of the transfer
• The new home must be eligible for home warranty