Yama  Saighani

Yama Saighani

Broker

CITYSCAPE REAL ESTATE LTD.

Mobile:
647-999-9997
Office:
905-241-2222
Email Me
Yama  Saighani

Yama Saighani

Broker

CITYSCAPE REAL ESTATE LTD.

Mobile:
647-999-9997
Office:
905-241-2222
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated. For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

 

About Me

Yama Saighani is a real estate broker whose passion lies in finding the next real estate opportunity for his client and has a keen eye for picking prime and profitable locations. Yama cultivated his entrepreneurial spirit early on, starting up his own businesses in junior high and breaking into the real estate as the investor as a 19-year-old.

Using his vast experience and expertise, he has guided friends, family, and clients to acquire property in the Greater Toronto Area and surrounding cities and sell for top dollar.

In addition to completing courses in property management and property law, Yama continues to research market trends and stay updated on the real estate field in his spare time in order to better serve his clients. His commitment to clients and investors has made him one of the top real estate professionals in the area.​