Varshan  Rukhaiyar

Varshan Rukhaiyar

REALTOR®

Elixir Real Estate Inc., Brokerage*

Mobile:
519-616-8464
Email Me
Varshan  Rukhaiyar

Varshan Rukhaiyar

REALTOR®

Elixir Real Estate Inc., Brokerage*

Mobile:
519-616-8464
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.

 

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With a background in Engineering and Quality Assurance in India, as well as experience in running a franchise café business in Canada, I believe there’s a significant gap in the real estate market for individuals who are honest, analytical, and committed to guiding clients to find their dream homes or ideal business spaces. As someone who values the importance of where we spend over 50% of our lives—whether it’s our home or workplace—I am passionate about helping clients make informed decisions about their real estate investments. My approach involves a comprehensive analysis of the physical, emotional, and financial aspects of both commercial and residential properties. I am dedicated to providing personalized service, ensuring that clients are fully aware of all factors influencing the biggest investment of their lives. Whether it’s fulfilling your business needs or finding your dream home, I am committed to facilitating and empowering you to make the best possible decision for your future.

 



Education: B.E. (Mechanical)

Specialty: Commercial & Residencial

Languages Spoken: Bengali, English, Gujarati, Hindi, Punjabi, Urdu