Here is how the calculator works:
To calculate the total Ontario Land Transfer Tax for residential properties, add the following together:
0.5% on the first $55,000 of the purchase price
1.0% of the amount from $55,000 to $250,000
1.5% of the amount in excess of $250,001 to $400,000
2.0% of the amount in excess of $400,000
OR use the following table:
| Purchase Price |
Calculation of Land Transfer Tax |
| 0 - 55,000 |
.005 x Amount |
| 55,001 - 250,000 |
(.01 x Amount) minus 275 |
| 250001 - 400,000 |
(.015 x Amount) minus 1,525 |
| 400,000 + |
(.02 x Amount) minus 3,525 |
|