Land & property transfer tax calculator Canada
When you buy a home, condo or other property in Canada, you’ll have to pay some type of fee to transfer ownership. The amount charged is usually based on the property’s value. Most provinces charge a certain percentage of land transfer tax, while others only charge transfer and registration fees (which end up costing much less). LowestRates.ca’s calculator will help you estimate how big your tax bill will be in every province that charges land transfer taxes. Keep scrolling to learn more about the tax rates and fees in every province and territory.
How to calculate land transfer tax
British Columbia land transfer tax
British Columbia charges a property transfer tax based on the fair market value of the property on the day the transfer is registered with the Land Title Office.
Saskatchewan land title fee
Like Alberta, Saskatchewan doesn’t charge a land transfer tax. However, it does charge a land title transfer fee based on the price of the property.
Quebec land transfer tax
Quebec charges one of two types of land transfer tax depending on whether a home is located in the city in Montreal, or the rest of Quebec.
There are two steps to calculate Quebec’s transfer duties. First, you have to figure out the property value. The property value is the greatest of the following amounts:
New Brunswick real property transfer tax
New Brunswick’s land transfer tax is pretty simple to calculate: it’s 1% of the assessed value of the property. For example, if you buy a home assessed to be worth $200,000, you would pay $2,000 in property transfer tax.
Nova Scotia land transfer tax
In Nova Scotia, homebuyers pay a municipal deed transfer tax. The tax rate depends on the municipality where your home is located. Kentville is the only town in the province that doesn’t charge a municipal deed transfer tax.
Northwest Territories land transfer tax
In Northwest Territories, homebuyers must pay two types of registration fees based on the mortgage amount and the property value.
The mortgage amount is taxed at $1 for every $1,000 or part thereof (minimum charge of $80).
About the author
The LowestRates.ca writing team focuses on telling original stories and bringing you the latest news in the world of personal finance.
.jpeg)
