Does Alberta charge a provincial land transfer tax when purchasing real estate?
Correct Answer
A) No, Alberta does not have a provincial land transfer tax
Alberta does not charge a provincial land transfer tax. Buyers pay Land Titles registration fees for the transfer and any mortgage instead. This contrasts with Ontario's land transfer tax and British Columbia's property transfer tax.
Why This Is the Correct Answer
Alberta has no land transfer tax. The only government charges on the transfer itself are the Land Titles registration fees for the transfer of land and any mortgage, which are far smaller than a percentage-based transfer tax.
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- → A buyer purchasing a $2 million commercial property in Alberta asks what provincial land transfer tax will be due on closing. What is the correct response?
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