Rates at a glance
| Portion of price | Ontario | Toronto (municipal) | British Columbia |
|---|---|---|---|
| Up to $55,000 | 0.5% | 0.5% | 1% (to $200,000) |
| $55,000 – $250,000 | 1% | 1% | 1% / 2% |
| $250,000 – $400,000 | 1.5% | 1.5% | 2% |
| $400,000 – $2,000,000 | 2% | 2% | 2% |
| $2,000,000 – $3,000,000 | 2.5% | 2.5% | 3% |
| $3,000,000 – $4,000,000 | 2.5% | 4.40% | 3% + 2% |
| Above $4,000,000 | 2.5% | 5.45% – 8.60% | 3% + 2% |
Ontario’s and Toronto’s top bands apply to land with one or two single-family residences. B.C. adds a further 2% on residential value above $3 million.
Worked example: $800,000 in Toronto, first-time buyer
$800,000 home in Toronto, first-time buyers
Land transfer tax$16,475
- Share of price
- 2.06%
- Purchase price
- $800,000
- Ontario land transfer tax
- $12,475.00
- Ontario first-time buyer refund (max $4,000)
- −$4,000.00
- Toronto municipal land transfer tax
- $12,475.00
- Toronto first-time buyer rebate (max $4,475)
- −$4,475.00
- Land transfer tax to pay
- $16,475.00
Who counts as a first-time buyer?
- Ontario and Toronto: you are at least 18, have never owned a home (or an interest in one) anywhere in the world, and move in within nine months. Spouses who owned a home while married to you disqualify the couple.
- British Columbia: Canadian citizen or permanent resident, one year living in B.C. (or two B.C. tax returns in the last six years), never owned a principal residence anywhere, and the home is worth up to $860,000.
Newly built homes in B.C. have a separate exemption, and foreign buyers pay additional speculation taxes in both provinces – neither is included here.