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How do I calculate the cost of Land Transfer Tax on my new home?

Land Transfer Tax tends to be the biggest disbursement. The formula for calculating the total land transfer tax is as follows:

0.5% on the first $55,000
Plus 1% of the amount from $55,001 to $250,000
Plus 1.5% of the amount in excess of $250,001 to $400,000
Plus 2% of the amount in excess of $400,001

Here are some sample calculations:

Purchase Price

Land Transfer Tax

$50,000

$250

$100,000

$725

$150,000

$1,225

$200,000

$1,725

$250,000

$2,225

$300,000

$2,975

$350,000

$3,725

$400,000

$4,475

$450,000

$5,475

$500,000

$6,475

Brantford Office

20 Wellington St., P.O. Box 1510
Brantford, ON N3T 5V6
t 519.759.6220
f 519.759.8360
law@waterousholden.com

Paris Office

7 William St.
Paris, ON N3L 1K6
t 519.442.5571
f 519.442.5567

Proudly Serving our community for over 90 years

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