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| Land Transfer Taxes |
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| Purchasers in most large Canadian centres can add Land Transfer Taxes to their list of closing costs. |
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| Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are a basic fact of life. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from a half a per cent to two per cent of the total value of the property. |
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| Many provinces have multi-tiered taxation systems that can prove complicated. If you purchase a property for $260,000 in Ontario, for example, .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? $2,375.00. |
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| The following chart illustrates Land Transfer Taxes by province. |
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| BRITISH COLUMBIA |
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| Property Purchase Tax |
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| Up to $200,000 X 1 % of total property value |
| From $200,000 up X 2 % of total property value |
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| MANITOBA |
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| Land Transfer Tax |
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| Up to $30,000 N/A |
| From $30,000 to $90,000 X .5 % of total property value |
| From $90,000 to $150,000 X 1 % of total property value |
| From $150,000 up X 1.5 % of total property value |
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| ONTARIO |
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| Land Transfer Tax |
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| Up to $55,000 X .5 % of total property value |
| From $55,000 to $250,000 X 1 % of total property value |
| From $250,000 to $400,000 X 1.5 % of total property value |
| From $400,000 up X 2 % of total property value |
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| QUÉBEC |
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| Transfer Tax |
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| Up to $50,000 X .5 % of total property value |
| From $50,000 to $250,000 X 1 % of total property value |
| From $250,000 up X 1.5 % of total property value |
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| NOVA SCOTIA |
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| Land Transfer Tax |
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| Halifax County Regional Municipality |
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| .015 per cent on total property value |
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| Outside Halifax County |
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| .005 per cent on total property value or nothing |
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