Land Transfer Tax

Land Transfer Tax (LTT)

Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, a land transfer tax property purchase tax will be levied on properties purchased. This means the majority of home purchasers in Canada can expect to add Land Transfer Taxes to the list of closing costs. Depending on where you live, taxes can range from a half a percent (0.5%) to two percent (2%) of the total value of the property. Many provinces have multi-tiered taxation systems that can prove complicated. Here is a link to a fast and easy land transfer calculator: Land Transfer Tax Calculator