Terry  Diaram

Terry Diaram

Sales Representative

ROYAL CANADIAN REALTY, BROKERAGE*

Mobile:
416-890-1005
Office:
905-364-0727
Email Me
Terry  Diaram

Terry Diaram

Sales Representative

ROYAL CANADIAN REALTY, BROKERAGE*

Mobile:
416-890-1005
Office:
905-364-0727
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated.
For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

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People and Real Estate is my passion and drive!  I am a trusted and experienced Real Estate Professional that is driven to please you and your families needs the first time.  I love to pair the right home to the right individual or family.  My 20 years experience in customer service and sales makes me the natural choice when choosing a real estate agent that understands your needs and that will always aim to minimize risk and maximize future returns.  When choosing a real estate agent that is well in tuned with the market, understands his client needs and is driven to succeed  - Terry Diaram!  

Your one stop local real estate professional that will give the white glove treatment every step of the way!



Education: Seneca College (Newham) Business Admin/ Management/Operations

Specialty: Freehold Properties Condominiums

Experience: 14

Area Covered: Toronto and Surrounding GTA

Languages Spoken: English