Land Transfer Tax Calculator
A question that is often posed by home buyers is "What is Ontario Land Transfer Tax?"
In general, when you purchase land or an interest in land in the Province of Ontario you are legally required to pay the Provincial Land Transfer Tax (PLTT). Ontario Land Transfer Tax is calculated as a percentage of your property value. We are also often asked about the land transfer tax in Toronto or as some call “The Toronto Land Transfer Tax”. The City of Toronto imposes a Municipal Land Transfer Tax (MLTT) in addition to the Ontario Land Transfer Tax. Toronto City Council approved this new Municipal Land Transfer Tax in 2006, which took effect on February 1, 2008. It will be applied to purchases on all properties within the city of Toronto in addition to the Province's Land Transfer Tax.
You can use this Ontario land transfer tax calculator to calculate an approximate estimate of land transfer tax you would pay in Ontario.
DISCLAIMER: Please note that Haber & Associates will not accept responsibility for any miscalculation or information contained on the http://www.landtransfertaxcalculator.ca/ website. We suggest this Ontario Land Transfer Tax Calculator for your budgeting purposes as an "approximation". The amount that you will be required to pay may not be the exact same as what was approximated to you by http://www.landtransfertaxcalculator.ca/.