Question 1

How much is land transfer tax in Toronto?

Accepted Answer

In Toronto, home buyers pay both the Ontario Provincial Land Transfer Tax and the Toronto Municipal Land Transfer Tax. As of February 2024 both follow the same rate structure, starting at 0.5% on the first $55,000 and rising in tiers up to 2% (and 2.5% above $2,000,000). This calculator estimates both taxes for a given purchase price.

Question 2

Who pays land transfer tax, the buyer or the seller?

Accepted Answer

The buyer pays land transfer tax when purchasing a home in Ontario and Toronto. It is one of the closing costs a buyer should budget for beyond the purchase price.

Question 3

Are first-time home buyers eligible for a land transfer tax rebate in Toronto?

Accepted Answer

Yes. First-time buyers may be eligible for a rebate of up to $4,000 on the provincial land transfer tax and up to $4,475 on the Toronto municipal land transfer tax.

Land Transfer Tax Calculator