Question 1

How much is land transfer tax in BC?

Accepted Answer

BC Property Transfer Tax is 1% on the first $200,000, 2% on $200,000–$2M, 3% on $2M–$3M, plus an additional 2% on residential value over $3M.

Question 2

What is the BC first-time home buyer exemption?

Accepted Answer

Full exemption for FMV up to $500,000. Properties from $500,001–$835,000 receive a flat $8,000 saving. The saving phases out linearly between $835,000 and $860,000.

Question 3

How much is Toronto Municipal Land Transfer Tax?

Accepted Answer

Toronto MLTT mirrors Ontario LTT brackets. Effective Jan 1, 2024, residential 1–2 single-family properties pay luxury brackets: 3.5% $3–4M, 4.5% $4–5M, 5.5% $5–10M, 6.5% $10–20M, and 7.5% over $20M.

Question 4

Does Alberta have land transfer tax?

Accepted Answer

No. Alberta charges land title registration fees only: $50 + $2 per $5,000 of property value, plus the same on the mortgage amount.

Question 5

What is the Ontario first-time home buyer rebate?

Accepted Answer

Up to $4,000 off provincial LTT, plus an additional $4,475 off Toronto MLTT within the City of Toronto.

Residential Land Transfer Tax Calculator

Breakdown