Ontario Land Transfer Tax Formula:

• The first $55,000 of the purchase price is taxed at a rate of 0.5%,
• $ 55,000 up to and including $250,000 is taxed at a rate of 1.0%
• $250,000 up to and including $400,000 is taxed at a rate of 1.5%
• over $400,000 on one- or two-family residential properties is taxed at a rate of 2%.
  (This amount is not applicable to properties with three or more residential units, industrial or commercial properties. In these cases the tax rate is 1.5% for a purchase price above $250,000)

Toronto Land Transfer Tax Formula

• Purchase price x 0.5 % on the first $55,000
• Purchase price x 1.0 % on the next $345,000
• Purchase price x 2% on the entire portion over $400,000