Land Transfer tax
If you purchase land or an interest in land in Ontario you are required to pay the Provincial Land Transfer Tax (PLTT).
If you have purchased this land or an interest in land located in Toronto, you are required to pay the Municipal Land Transfer
Tax (MLTT) in addition to the PLTT.
Toronto
Municiple Land Transfer Tax (MLTT)
Up to and including $55,000.00 X 0.5% of total property value
From $55,000.01 to $400,000.00 X 1% of total property value
Over $400,000.00 X 2% of total property value
Ontario
Provincial Land Transfer Tax (PLTT)
Up to $55,000 X 0.5% of total property value
From $55,000 to $250,000 X 1% of total property value
From $250,000 to $400,000 X 1.5% of total property value
From $400,000 up X 2% of total property value
The City of Toronto levies an additional LTT on Toronto real estate in addition to the provincial rate.
Land Transfer Tax Rebates: For First Time Home Buyers
If you are a first time home buyer you are eligable for rebates for both the Municipal and Provincial Land Transfer Tax
Municipal Land Transfer Tax (MLTT): Maximum $3725
Provincial Land Transfer Tax (PLTT): Maximum $2000