Land Transfer Tax
Besides Alberta and Saskatchewan, all provinces have a land transfer tax—one of the less considered costs of a home transaction. Throughout the majority of provinces, the land transfer tax is calculated as a percentage of the value of a property, utilizing the asking price as an approximation. In Toronto, buyers are also faced with a municipal tax.
LTTs are figured out via the buying price of your property. There are unique transfer tax rates in every province, while Toronto and Montreal possess their own set of rules when purchasing real estate.
The above calculator will show you your location-specific LTT. You can also read ahead to learn more about figuring out the LTT calculation guidelines of where you live.