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Anyone know how to calculate land transfer fees/taxes on say a 750K home for example? Are there still municipal and provincial taxes?

Category: Realtor

3 Comments → “Anyone know how to calculate land transfer fees/taxes on say a 750K home for example?”


  1. Admin

    Guest

    Sep 07, 2012

    Interesting video about fairness of Toronto Land Transfer Tax?

    reply

  2. Admin

    Guest

    Jul 29, 2012

    Moneyville.ca just touched on closing costs/land transfer fees and budgeting carefully! http://goo.gl/cMswc

    Example: a $559,900 purchase = $18,200 in additional costs on closing.

    Home buyers should budget the equivalent of 1.5 to 4 per cent of the purchase price for closing costs. Canada Mortgage and Housing Corp. have a useful budgeting sheet that can help:

    http://www.cmhc-schl.gc.ca/en/co/buho/hostst/wosh_007.cfm?renderforprint=1

    Mortgage comparison site Ratehub.ca has a calculator:

    http://www.ratehub.ca/land-transfer-tax

    that can help estimate the Land Transfer Tax.

    reply


  3. Jul 28, 2012

    The Land Transfer Tax on a $750,000 home, if buying in Toronto, is $22,200. It’s split about 50-50 between the provincial and municipal governments. Most realtors learn how to calculate LTT when they’re qualifying for their real estate licence, and we forget it once we start practicing. However, I have added a Land Transfer Tax calculator on my website http://www.desmondbrown.ca
    Go to the “Buying” page and you’ll see the calculator along with a handy mortgage calculator.

    reply

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