Tony  Lofranco B.A. LLB(HONS)

Tony Lofranco B.A. LLB(HONS)

Sales Representative

BERKSHIRE HATHAWAY HOMESERVICES WEST REALTY, BROKERAGE*

Mobile:
(416) 817-1983
Office:
(416) 294-1877
Email Me
Tony  Lofranco B.A. LLB(HONS)

Tony Lofranco B.A. LLB(HONS)

Sales Representative

BERKSHIRE HATHAWAY HOMESERVICES WEST REALTY, BROKERAGE*

Mobile:
(416) 817-1983
Office:
(416) 294-1877
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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(416) 817-1983

  

(416) 294-1877

  

Tony Lofranco B.A. LLB(HONS)

Tony Lofranco, the Founder of fouronesixrealty.com, is a multifaceted businessman with a worldly educational background. Tony was raised in the Richview area of Etobicoke and graduated from St. Michael's College School in Toronto.  He achieved his Bachelor of Arts in Political Science from York University in 2003, and went on to earn his law degree in England from The University of Wolverhampton.  Mr. Lofranco also attended Dalhousie Law School in Halifax, Nova Scotia until 2006.

Mr. Lofranco has vast experience selling both new and re-sale residential real estate in the Greater Toronto Area. Tony's versatility and legal background also enables him to carry out complicated commercial real estate transactions with ease.

His platinum preconstruction group provides developers and investors with consistent results. Mr. Lofranco's team and network of realtors throughout the goldern horsehoe of Southern Ontario never fail to accomplish finding buyers their ideal property.  

Most of all, his innovative and profitable listing techniques and negotiation power provide sellers with the confidence necessary to achieve their financial goals when selling their property.