Land transfer tax obligation (LTT) is usually ignored when thinking about the complete expense of acquiring a home. All districts have a land transfer tax, other than Alberta and also Saskatchewan, who rather levy a much smaller sized transfer cost. In most districts the tax obligation is computed as a percent of residential or commercial property value, utilizing asking price as a close quote. Property buyers in Toronto, nonetheless, also incur an extra community tax. Bank Mortgage Calculator

To help balance out the unwelcome cost, Ontario, British Columbia, Prince Edward Island and the City of Toronto use land transfer tax obligation refunds for first-time homebuyers.

Land Transfer Tax Calculator