The brackets. For an agreement of purchase and sale entered into after November 14, 2016, with registration on or after January 1, 2017, the rates on the value of the consideration are: amounts up to and including $55,000 at 0.5%; amounts exceeding $55,000, up to and including $250,000 at 1.0%; amounts exceeding $250,000, up to and including $400,000 at 1.5%; amounts exceeding $400,000 at 2.0%; and amounts exceeding $2,000,000, where the land contains one or two single family residences, at 2.5%. Each rate applies only to the part of the price inside its bracket. Ontario's own worked example: on a $400,000 transfer the tax is $275 plus $1,950 plus $2,250, for a total of $4,475.
Property that is not a one- or two-family home. The 2.5% rate applies only where the land contains one or two single family residences. For other property, the tax on everything over $400,000 stays at 2.0%. This calculator assumes a home with one or two single-family residences; if your property is not one, the figure over $2,000,000 will be too high — ask your lawyer.
First-time homebuyer refund. Beginning January 1, 2017, the maximum amount of the refund is $4,000, and no land transfer tax would be payable by qualifying first-time purchasers on the first $368,000 of the value of the consideration for eligible homes. First-time purchasers of homes greater than $368,000 would receive a maximum refund of $4,000. This calculator refunds the smaller of the tax payable and $4,000, which matches both statements: the tax on a $368,000 home is $3,995, so the full tax is refunded and nothing is payable. To qualify you must be at least 18 years of age, you cannot have owned a home or an interest in a home anywhere in the world, and your spouse cannot have owned a home or interest in a home anywhere in the world while your spouse. Beginning January 1, 2017, eligibility is restricted to Canadian citizens and permanent residents of Canada. You must occupy the home as your principal residence within nine months of the date of transfer, and you must apply for the refund within 18 months after the date of registration. The refund will be reduced if one or more of the purchasers is not a first-time homebuyer — it is proportionate to the interest acquired by the individuals who qualify. This calculator assumes every buyer on the purchase qualifies; if only some do, the refund is smaller.
Non-Resident Speculation Tax (NRST) — not included. Effective October 25, 2022, the NRST rate was increased to 25 per cent. The NRST applies on the purchase or acquisition of an interest in residential property located anywhere in Ontario by individuals who are foreign nationals (individuals who are not Canadian citizens or permanent residents of Canada) or by foreign corporations or taxable trustees. The NRST applies in addition to the general land transfer tax. This calculator does not add it: if any buyer is a foreign national, a foreign corporation, or a taxable trustee, a further 25% of the price may be payable on top of the figure shown here. Check the Non-Resident Speculation Tax page on Ontario.ca or ask your lawyer.
What this calculator leaves out. It covers the provincial land transfer tax only. It does not include any municipal land transfer tax, legal fees, title insurance, or other closing costs. Land transfer tax is calculated on the value of the consideration, which is broader than the purchase price alone — it includes liabilities assumed, benefits conferred, soft costs, and the cost of upgrades — and where HST applies to the purchase of land, the value of the consideration does not include the HST paid on the purchase price.
Sources: Government of Ontario, Calculating Land Transfer Tax (Ontario.ca), opened at build time — the brackets, the 2.5% single-family-residence band, the $4,475 worked example, and the 25% NRST rate; and Government of Ontario, Land Transfer Tax Refunds for First-Time Homebuyers (Ontario.ca), opened at build time — the $4,000 maximum refund, the first $368,000, the eligibility conditions, the 18-month application limit, and the proportional reduction. No figure on this page comes from anywhere else. Where a figure could not be verified on an opened official page, this page says to check the official page instead of stating it.