Land transfer tax, a payment made to the government for transferring property from the seller to the buyer, is a complex process that should be calculated by a professional.
Land transfer tax is typically calculated on the value of the property as registered with the land registration office. The tax rates calculated on the value of the consideration are:
If you are a first-time homebuyer, you may be eligible for a refund of all or part of the land transfer tax, provided they meet certain criteria.
Ontario's land transfer tax is payable when you register the transfer.
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