Provincial LTT (Ontario)
Ontario's LTT applies on every land transfer in the province. The residential brackets:
| Portion of price | Rate |
|---|---|
| $0 – $55,000 | 0.5% |
| $55,001 – $250,000 | 1.0% |
| $250,001 – $400,000 | 1.5% |
| $400,001 – $2,000,000 | 2.0% |
| $2,000,001+ (single/2-family) | 2.5% |
Worked example, $750,000: $275 + $1,950 + $2,250 + $7,000 = $11,475. Source: Ontario.ca/page/land-transfer-tax.
Municipal LTT (Toronto)
Toronto charges a parallel MLTT. As of the last published rates:
| Portion of price | Rate |
|---|---|
| $0 – $55,000 | 0.5% |
| $55,001 – $250,000 | 1.0% |
| $250,001 – $400,000 | 1.5% |
| $400,001 – $2,000,000 | 2.0% |
| $2,000,001 – $3,000,000 | 2.5% |
| $3,000,001 – $4,000,000 | 3.5% |
| $4,000,001 – $5,000,000 | 4.5% |
| $5,000,001 – $10,000,000 | 5.5% |
| $10,000,001 – $20,000,000 | 6.5% |
| $20,000,001+ | 7.5% |
The high-end tiers (above $3M) were added January 1, 2024 as the "luxury MLTT" change. Source: toronto.ca/services-payments/property-taxes-utilities/land-transfer-tax. Verify before closing.
On $750,000: $275 + $1,950 + $2,250 + $7,000 = $11,475. Same number as the provincial side. Total LTT before rebates: $22,950.
First-time buyer rebates
Two rebates, stackable if you qualify:
- Ontario first-time homebuyer rebate: up to $4,000 (covers the LTT on the first ~$368,000 of price).
- Toronto first-time homebuyer rebate: up to $4,475 (covers MLTT on the first ~$400,000 of price).
Eligibility:
- 18 or older.
- Canadian citizen or permanent resident.
- Never owned a home anywhere in the world — and your spouse must not have owned during the marriage.
- Occupy as principal residence within 9 months.
Your lawyer files the rebate claims at closing; the rebate appears as a reduction on the Statement of Adjustments, not a separate cheque. Tell the lawyer at the START that you are a first-time buyer.
NRST (foreign buyer tax)
If you are not a Canadian citizen or permanent resident, Ontario's Non-Resident Speculation Tax applies on top of LTT at 25% of the purchase price. NRST has been at 25% since October 2022. There are limited exemptions (Ontario Immigrant Nominee Program nominees, protected persons, spouses of Canadian citizens/PRs). See our NRST guide.
Worked examples
| Price | ON LTT | TO MLTT | Total (no rebate) | First-time buyer total |
|---|---|---|---|---|
| $500,000 | $6,475 | $6,475 | $12,950 | $4,475 |
| $750,000 | $11,475 | $11,475 | $22,950 | $14,475 |
| $1,000,000 | $16,475 | $16,475 | $32,950 | $24,475 |
| $1,500,000 | $26,475 | $26,475 | $52,950 | $44,475 |
Above $2M, the brackets diverge (provincial caps at 2.5%; municipal accelerates). At $3M total LTT exceeds $90,000. At $5M it exceeds $200,000.
Frequently asked questions
When do I pay land transfer tax?
At closing, through your lawyer's trust account — you wire the closing balance to your lawyer, and they remit LTT, MLTT, and registration fees on registration.
Can I finance the LTT?
No. LTT is paid in cash at closing. Some uninsured high-ratio mortgage products effectively work around this by lending against a slightly higher LTV, but the standard rule is cash.
Do I pay LTT on assignment of a pre-construction unit?
If the assignment occurs before final closing, LTT is paid by the assignee (the new buyer) on the final closing — not by the assignor. CRA may treat the assignment profit itself as taxable income (not capital gains). Talk to your lawyer and accountant.
Are commercial condos taxed differently?
Yes — commercial / mixed-use brackets differ from residential. The municipal LTT in particular has different rates above certain thresholds. Verify with your lawyer.
Talk to a Toronto Condo Broker
I'm Scott Miralami — a licensed Broker at Central Home Realty Inc., Brokerage, focused on the Toronto downtown condo market. If you have a question about anything you read here, send me a note. I read every message myself.