Land Transfer Tax Refund Program

Land Transfer Tax. A tax payable to the Provincial Government by the purchaser upon the transfer of title from a seller. In Ontario a simple formula applies*: First $55,000; One half percent. (0.5%)$55-250,000; One percent. Over $250,000; One and a half percent. Example: Price= $370,000: LTT = ($55,000 * 0.5%) + ($195,000 * 1%) + ($120,000 * 1.5%)= $275 + $1,950 + $1,800 = $4,025.*Please check with your Realtor as to the rates applicable in your location. SUBJECT TO CHANGE

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