Flat Fee Realty Ottawa: 613-454-1262 Susan Spidle, Sales Representative, Flat Rate Realty

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Flat Rate Realty Ottawa: Low, Discount Commission Real Estate Fees

Land Transfer Tax Table


Land transfer tax is a provincial tax payable on the purchase of a home. This tax is payable by the purchaser on closing and is calculated as follows:

  • 0.5% of the first $55,000

  • plus 1.0% of the amount from $55,001 to $250,000

  • plus 1.5% of the amount in excess of $250,001 to $400,000

  • plus 2.0% of the amount in excess of $400,000

VALUE

TAX

 

VALUE

TAX

 

VALUE

TAX

 

VALUE

TAX

$150,000 $1225 $220,000 $1925 $290,000 $2825 $450,000 $5475
$160,000 $1325 $230,000 $2025 $300,000 $2975 $460,000 $5575
$170,000 $1425 $240,000 $2125 $325,000 $3350 $470,000 $5675
$180,000 $1525 $250,000 $2225 $350,000 $3725 $480,000 $5775
$190,000 $1625 $260,000 $2375 $375,000 $4100  $490,000 $5875
$200,000 $1725 $270,000 $2525 $400,000 $4475 $500,000 $6075
$210,000 $1825 $280,000 $2675 $425,000 $4975 $550,000 $7475

Land Transfer Tax (LTT) Rebate Program

Program

First-time home buyers who purchase a newly constructed home will receive a rebate of the Land Transfer Tax (LTT). All other buyers will continue to pay the full applicable tax. The maximum LTT rebate is $2,000.

Details

  • The 1996 Ontario Budget announced a special one-year provision to the LTT that was
    renewed every year and is now a permanent program.

  • First time buyers who purchase a newly constructed home will receive a rebate of the LTT. All other buyers will continue to pay the full applicable tax.

  • The maximum rebate is $2000. If an individual owns less than 100% interest in the newly built home, the amount of the rebate would be reduced and calculated according to the amount of interest in the home.

  • A rebate of $2,000 is equivalent to the LTT payable on a purchase price of $227,500 (net of GST).

  • Only individuals who are at least 18 years of age, have not previously owned an interest in a home anywhere qualify for the rebate. Also applies to their spouse.

  • Individuals who have received an Ontario Home Ownership Savings Plan (OHOSP) based refund of the LTT do not qualify.

For further information on Land Transfer Tax: Ministry of Revenue - Ontario

 

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