Muhammad Hussain - Real Estate Broker

MUHAMMAD
HUSSAIN

 M.COM, PFP REAL ESTATE BROKER
View Muhammad on Facebook View Muhammad on Twitter View Muhammad on Linkedin

 

Office: 416-203-6636 | Direct: 416-318-5264 BUYING, SELLING & ADVISOR OF NEW CONSTRUCTION CONDOS & HOUSES
Muhammad Hussain - Real Estate Broker

Land Transfer Tax

Land Transfer Tax Purchasers in most large Canadian centres 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 a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property.

Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, .5 per cent is charged on the first $55,000, 1 per cent is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5 per cent. Your total tax bill? $2,375.00.

The following list shows Land Transfer Taxes by province.

Ontario

  • Land Transfer Tax
  • Up to $55,000 X .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

British Columbia

  • Property Purchase Tax
  • Up to $200,000 X 1 % of total property value
  • From $200,000 up X 2 % of total property value

Manitoba

  • Land Transfer Tax
  • Up to $30,000 N/A
  • From $30,000 to $90,000 X .5 % of total property value
  • From $90,000 to $150,000 X 1 % of total property value
  • From $150,000 up X 1.5 % of total property value

Quebec

  • Transfer Tax
  • Up to $50,000 X .5 % of total property value
  • From $50,000 to $250,000 X 1 % of total property value
  • From $250,000 up X 1.5 % of total property value

Nova Scotia

  • Land Transfer Tax

Halifax Metro

  • 1.5 per cent on total property value

Outside Halifax County

  • Check with local municipality.

My Testimonials

“After 5 months of anguish, we were still unsuccessful in selling our condo, despite numerous price reductions. We Called Muhammad Hussain from Remax ,after our meeting with him that we knew we were in good hands. From our first meeting, Within 24 days of listing our loft, Muhammad sold it. The result was amazing! We attracted the highest ever sale price in our neighbourhood"
- Richard Hugh

Read More

Latest News

Toronto Listings Mississauga Listings Why Muhammad? 45 Harbour Square
Toronto, ON
Phone: 416-203-6636
Fax: 416-203-1908
 

Re/Max Condos Plus Corporation, Brokerage, independently owned & operated. Not intended to solicit any buyer or seller under contract.Do Not copy any contents of this website without prior approval.
Top 1% in condo sales volume for 2010, 2011, 2012, 2013 in terms of sales volume of condos sold across all of the Greater Toronto Market for 2010 as per Toronto real estate Board. Do not copy any pictures or content of this website without prior approval.

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 12/9/2017 7:42:39 AM