Parthi  Ravichandran

Parthi Ravichandran

Real Estate Broker

RE/MAX CROSSROADS REALTY INC, Brokerage*

Mobile:
647-625-2641
Office:
416-491-4002
Email Me
Parthi  Ravichandran

Parthi Ravichandran

Real Estate Broker

RE/MAX CROSSROADS REALTY INC, Brokerage*

Mobile:
647-625-2641
Office:
416-491-4002
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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647-625-2641

  

416-491-4002

  

 

"Energetic. Passionate. Knowledgeable. All about customers!

 

As a REALTOR®, I am dedicated to providing the highest level of services with the greatest degree of integrity to my clients. Your need and concern are my number one priority. Also, my desire is to be available for you at the right time in place.

 

I have enjoyed being a REALTOR® in the Greater Toronto Area (GTA). This profession is my passion. Being a part of your life and helping to find your perfect home, where are your memories begin? And I am happy to see when that transition brings a big move in your life.

 

My heart's desire is to do this profession in a way that will bring the best outcome to you. Therefore, I decided to face challenges and go beyond your expectation. I enjoy what I do, and I find fulfillment and purpose in my job.

 

I do the process easy for you. Choose the house you like; I will do the rest.

 

If you are planning on buying, selling, or leasing in the GTA contact your real estate expert Parthi for personalized customer care. I take pride in servicing my clients by delivering exceptional service and establishing a relationship.

 



Education: Computer Engineering Technology and Real Estate

Specialty: Residential, Commercial, Investments, Luxury Homes, New Construction & Rental.

Area Covered: Greater Toronto Area

Languages Spoken: English, Sinhalese, Tamil