2026 Ontario LTT Rates: 0.5% on first $55,000 | 1.0% on $55,000-$250,000 | 1.5% on $250,000-$400,000 | 2.0% on $400,000-$2,000,000 | 2.5% over $2,000,000. Toronto Municipal Tax adds up to 2% more for properties in the City of Toronto.
Your LTT Estimate
Purchase Price:
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Ontario LTT:
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Toronto Municipal LTT:
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Ontario First-Time Buyer Rebate:
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Toronto First-Time Buyer Rebate:
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Total LTT Payable:
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Frequently Asked Questions
What is Land Transfer Tax in Ontario?
Land Transfer Tax (LTT) is a provincial tax charged when you buy property in Ontario. The tax is calculated on a tiered scale based on the purchase price, ranging from 0.5% to 2.5% for properties over $2 million. First-time buyers in Ontario may qualify for a rebate of up to $4,000. Properties in Toronto face an additional municipal LTT at similar rates.
How much is Land Transfer Tax in Mississauga vs Toronto?
Mississauga, Brampton, and other GTA cities only pay the provincial Ontario LTT. Toronto buyers pay both provincial LTT and Toronto Municipal LTT, effectively doubling the tax. For an $850,000 home, Mississauga buyers pay approximately $12,475 in LTT, while Toronto buyers pay around $24,950. This makes Toronto one of the most expensive cities in Canada for LTT.
Who qualifies for the first-time home buyer LTT rebate in Ontario?
To qualify for the Ontario first-time buyer rebate (up to $4,000), you must be at least 18 years old, never owned a home anywhere in the world, and occupy the home as your principal residence within 9 months. Toronto offers an additional municipal rebate (up to $4,475) for first-time buyers purchasing in the City of Toronto. Combined, Toronto first-time buyers can receive up to $8,475 in LTT rebates. Our CPA team in Mississauga helps GTA buyers maximize these rebates.
When do I pay Land Transfer Tax?
LTT is due on closing day when you take ownership of the property. Your lawyer will collect the LTT amount and remit it to the Ontario government on your behalf. It's important to budget for LTT as part of your closing costs, as it can range from $2,000 to $50,000+ depending on the purchase price. Insight Accounting CPA helps clients in Mississauga, Toronto, and the GTA plan for all real estate tax obligations.
Are there any exemptions to Land Transfer Tax in Ontario?
Yes. Exemptions include transfers between spouses, transfers due to divorce settlements, gifts from parents to children (under certain conditions), and properties transferred to certain types of trusts. Commercial property transfers may also have different rules. If you're buying property in Mississauga, Brampton, Oakville, or anywhere in Ontario, consult with a CPA to confirm whether you qualify for any LTT exemptions or rebates.