Land Transfer Tax Calculator

The Land Transfer Tax Calculator (LTT) is a great tool to calculate the amount of tax you will pay on closing when purchasing a property.

If you’re a first time buyer you can get a rebate of up to $8475 ($4000 provincial and $4475  Toronto LTT municipal).

LTT is the biggest closing cost. It sucks, but just like purchasing a chocolate bar or a car, you have to pay tax. It is very important to be aware of your closing costs so you don’t over extend yourself and become house poor the minute you gain possession. Make sure you have the cash on hand to make the large lump sum tax payment by closing. Also, keep in mind other closing costs ie. lawyer fees, moving costs etc.

For more information on Land Transfer Tax (provincial and municipal) read this blog post.

Land Transfer Tax Calculator

Ontario Land Transfer Tax Calculator

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