Andrei  Lipatov

Andrei Lipatov

Salesperson, REALTOR®

HomeLife Classic Realty Inc., Brokerage*

Mobile:
416-457-3057
Office:
647-479-8477
Toll Free:
1-844 HL CLASS
Email Me
Andrei  Lipatov

Andrei Lipatov

Salesperson, REALTOR®

HomeLife Classic Realty Inc., Brokerage*

Mobile:
416-457-3057
Office:
647-479-8477
Toll Free:
1-844 HL CLASS
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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416-457-3057

  

647-479-8477

  

Acknowledged for my business acumen, marketing prowess, skilled negotiating, integrity and charismatic style, my traits are a natural fit for the competitive real estate market.  I consistently delivers best­in­class results for each one of my clients.

I have made building a wide network of strong connections a priority and as a result I had built an impressive track record. As a professional, I affords my real estate clientele world­class service and impeccable attention to detail. I genuinely understands what is most important to my clients, and pays attention to their wants and needs.

I am committed to leveraging my years of professional experience to help people buy and sell property, fulfill their real estate goals and dreams, and deliver the lifestyle they desire.