Ontario

Ontario’s Land Transfer Tax (LTT) is based on the purchase price of your home. It starts at 0.5% on the first $55,000, gradually increasing to 2.5% for homes over $2 million.

If you’re buying in Toronto, an additional Municipal Land Transfer Tax (MLTT) applies, matching the provincial rates. As of January 1, 2024, Toronto introduced higher brackets for properties above $3 million, ranging from 3.5% to 7.5%.

The good news? First-time buyers can get a rebate of up to $4,000 from Ontario and $4,475 from Toronto. These credits help offset one of the largest costs at closing.

Fortunately, our app does all the number crunching for you.