Pushpinderjit  Gill

Pushpinderjit Gill

Broker of Record

ROYAL CANADIAN REALTY, BROKERAGE*

Mobile:
647-559-2413
Office:
905-364-0727
Email Me
Pushpinderjit  Gill

Pushpinderjit Gill

Broker of Record

ROYAL CANADIAN REALTY, BROKERAGE*

Mobile:
647-559-2413
Office:
905-364-0727
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.

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647-559-2413

  

905-364-0727

  

About Me


In today's competitive Real Estate market, Experience, Knowledge & Timing is everything. One right decision can make you millions of dollars, whereas one wrong decision go otherway.  When you team up with me, I will provide you professional advise on how to generate wealth through Real Estate.

 

Whether you are buying or selling a Residential (house) property, ICI (Industrial, Commercial or Investment) property, Business or looking to invest in Pre-Construction Projects, hire someone like me, who has years of experince,  wants to earn your business and can guide you how to make a profit out of your investment.

I invite you to contact me as I'd be happy to assist you with this most important decision of your life.

Before you start looking for Real Estate, find out how much you can qualify for. I can get you NO OBLIGATORY PRE-APPROVAL.
 

 

I deal with the number of lenders (TD, RBC, CIBC, BMO, Scotia Bank, Broker Channel) to provide you the best rates available in the market.
 

 

As a single point of contact, I also help you to arrange Home Inspector, Lawyer & Movers as per your discreation.
 

 

Please browse my website for listings, reports and important local real estate information.



Education: B.Sc.

Specialty: Residential, Industrial, Commercial, Investment Properties, Businesses and Pre-Construction projects

Experience: 15

Area Covered: Greater Toronto Area Toronto Mississauga Brampton Markham Stouffville Scarborough North York Etobicoke Rexdale Vaughan Woodbridge Richmond Hill Thornhill King City Ajax Whitby Oshawa Clarington Bowmanville

Languages Spoken: English, Hindi, Punjabi