What is Provincial Land Transfer Tax? Provincial Land Transfer Tax (PLTT) is imposed on the acquisition of land. Every person obtaining an interest in land is liable to PLTT. Use the chart below to help you calculate PLTT: Ontario Land Transfer Tax | - 0.5% on first $55,000
- Plus 1% on next $195,000
- Plus 1.5% on amount over $250,000 and
- Plus 2% on amount over $400,000 for land with 1-2 single family residences
| Example: Residential Property Sold For $675,000 1. 0.5% x $55,000 = $275 2. 1% x $195,000 = $1,950 3. 1.5% x $150,000 = $2,250 4. 2% x $275,000 = $5,500 Total TLTT Due: $9,975 |
Who is responsible for paying Provincial Land Transfer Tax? Similar to the Toronto Land Transfer Tax, the Provincial Land Transfer Tax is paid by the person(s) purchasing the property, not the seller. - BREAKING NEWS - ONTARIO EXPANDS LAND TRANSFER TAX REFUND PROGRAM
First-time buyers of resale homes to benefit from new tax measure The McGuinty government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today. "Expanding this Land Transfer Tax refund is an important part of our government's commitment to helping Ontarians buying their first home," Duncan said. Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid. To find out more information regarding Ontario Land Transfer Tax please complete the form below: | 
