What is Property Transfer Tax?

Property Transfer TaxThe Property Transfer Tax is a tax payable to the Provincial Government by the purchasers of real estate. The tax applies to all types of real estate, whether residential, commercial or industrial.
British Columbia • 1% for the first $200,000 of value • 2% for any amount in excess of $200,000
Alberta
Alberta does not charge a transfer “tax; but does charge a “fee” based on the value of the property transferred and on the value of a mortgage registered • $1 for each $5,000 or portion of the value of the property • $1 for each $5,000 or portion of mortgage principal

Saskatchewan Saskatchewan does not charge a transfer “tax, but does charge a “fee” based on the value of the property transferred. Responsibility for payment of the fee is negotiated between the buyer and the seller as a term of the Contract of Purchase and Sale. • 0.3% of the value
Manitoba  • 0% on first $30,000 • 0.5% on next $60,000 • 1.0% on next $60,000 • 1.5% on next $50,000 • 2% on amounts in excess of $200,000
Ontario  • 0.5% on first $55,000 • 1.0% on next $195,000 • 1.5% on next $150,000 • 2% on amounts in excess of $400,000
City of Toronto • 0.5% on first $55,000 • 1.0% on next $345,000 • 2% on amounts in excess of $400,000 plus Ontario transfer tax
Quebec • 0.5% on first $50,000 1.0% on next $200,000 • 1.5% on amounts in excess of $250,000
Nova Scotia varies from 1.0 to 1.5% depending on particular county; i.e. Halifax is 1.5%
New Brunswick 0.25% of the value
Prince Edward Island 1% of the value
Newfoundland  For properties and mortgage under $500, a flat fee of $100 is charged  - For properties over $500, $100 + 0.4% of the mortgage amount is charged