If you are purchasing outside of Toronto, you will be responsible for the Ontario Land Transfer Tax when you buy your home. You can estimate the total amount using an Ontario Land Transfer Tax calculator to get an accurate figure. If you are a first-time homebuyer, you may qualify for a reduction of up to $4,000 on closing. To determine your exact costs, you can use a land transfer tax calculator for first-time homebuyers.
If you are purchasing within Toronto, you will need to pay both Toronto’s Municipal Land Transfer Tax and the Ontario Land Transfer Tax. Using a Toronto Land Transfer Tax calculator, you can quickly estimate the total amount payable. First-time homebuyers may receive a reduction of up to $3,725 on the Toronto Land Transfer Tax, while the Ontario Land Transfer Tax may be reduced by up to $4,000 upon closing. For a more detailed breakdown, consider using a land transfer tax calculator Toronto to understand your expenses.
(Real Estate Fees and disbursements quoted above are for residential purchases under $500,000 located in Durham Region. If you are buying outside of Durham Region, additional disbursements may apply. If you are arranging a mortgage, your mortgage company may charge broker fees, Tax on CMHC Fees, charges to deliver mortgage documents, etc. Prices quoted are for standard transaction with one mortgage to be arranged or discharged. Transactions requiring additional registrations or multiple mortgage discharges may result in additional fees or disbursements. Optional digital storage fee in addition to prices quoted – Feel free to contact us for details or more information. Prices are subject to change without notice. We reserve the right to decline reatainers). Disclaimer: This Land Transfer Tax Calculator is provided for informational purposes only and is intended as a general guide. The calculations are based on current Ontario and Toronto land transfer tax rates and available first-time homebuyer rebates. Actual tax amounts may vary depending on legislative changes, property details, and individual eligibility for rebates. This tool does not constitute financial, legal, or tax advice. Users should verify all calculations with an appropriate professional, such as a real estate lawyer or tax specialist, before making any financial decisions. We do not guarantee the accuracy, completeness, or timeliness of the results. By using this tool, you acknowledge that any reliance on the calculated amounts is at your own risk.
