LAND TRANSFER TAXES
THERE ARE 2 TAXES YOU MIGHT HAVE TO PAY WHEN YOU ARE CLOSING YOUR PROPERTY.
If you move in Ontario, you will be levied the Ontario Land Transfer Tax. Additionally, if you are moving within Toronto city boundaries (West to 427, East to Port Union Rd, South of Steeles), you will also be levied an additional Municipal Land Transfer Tax - also known as the Toronto Land Transfer Tax.
NOTE: The Toronto Land Transfer tax is not applicable to the regions with a 905 area code. If you are moving to Milton, Oakville, Mississauga, Brampton, Vaughan, Richmond Hill, Markham, Pickering - only the Ontario Land Transfer Tax will apply.
You can calculate your Land Transfer Tax with the easy to use calculator below. In the Profile menu, select Ontario for your province and Toronto for city (if purchasing within the city of Toronto limits) to determine how much you will pay on closing. If you are a First-Time Home Buyer, make sure to check off the box to determine your actual rebate.
Land transfer tax calculator
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