ONTARIO LAND TRANSFER TAX CALCULATOR
When you a buy a house, condo or land in Sarnia-Lambton you’re subject to an Ontario Government land transfer tax which is due by your closing date.
Land transfer tax rates in Ontario – Updated in 2017
|Purchase price of home||Land title transfer fee||First-time homebuyer rebate|
|Up to and including $55,000||0.5%||Full tax rebate|
|$55,000.01 to $250,000.00||1.0%||Full tax rebate|
|$250,000.01 to $368,333||1.5%||Full tax rebate|
|$368,334 to $400,000.00||1.5%||$4,000 tax rebate|
|$400,000.00 to $2,000,000.00||2.0%||$4,000 tax rebate|
|Over $2,000,000.00||2.5%||$4,000 tax rebate|
Ontario land transfer tax rebate in Ontario
|Purchase price of home||Land title transfer tax||First-time home buyer rebate||Net tax payable|
First-time home buyer eligibility in Ontario
You must be a Canadian citizen or permanent resident of Canada.
You must occupy the home within 9 months of purchase.
Your spouse cannot have owned a home while being your spouse (but may be a previous home owner).
You must be 18 years or older.
You cannot have owned a home or interest in a home anywhere in the world.
If the home is newly constructed, it must be eligible for home warranty.
References & Notes
ROB YEO, Co-Founder & Systems Lead
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Rob and Daniele were great to deal with. Their knowledge, experience and hard work made what could be a stressful situation easier. I have worked with them in both buying and selling a house, and I would highly recommend them.
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