Here’s how to use the land transfer tax calculator: 

1. Enter the price of the home you are planning to purchase. Whether it’s your first home or investment property, the “Asking Price” refers to how much the home is. 
2. Next, you will want to specify the city and province you live in under the “Location” section. This allows our land transfer tax calculator to determine what your local tax rates are as various regions in Canada are subject to (one or a combination of) Provincial and/or Municipal land transfer tax rates. 
3. If you are a first-time home buyer, please select the checkbox next to the “I am a first-time home buyer” option in the calculator. Based on the city your home is in, you may be eligible for a one-time rebate on your land transfer tax which can help offset the tax burden. 

That’s it! Once you have entered the Asking Price, your location (City and Province) and if you are a first-time home buyer, the calculator will take your input and display the results on the left-hand side. 

Once you’ve determined what your potential land transfer tax amount is, you can take the next step by clicking on the Get Started button below, fill out your contact details and one of our dedicated 8Twelve Mortgage Strategists will connect with you. Your dedicated mortgage strategist will try to see what your options are, or if you currently are in a mortgage program, what are some potential money saving opportunities.