In Toronto, what additional land transfer tax applies beyond the Ontario Land Transfer Tax?
Correct Answer
C) Toronto's own Municipal Land Transfer Tax at graduated rates
Since February 1, 2008 Toronto has charged its own Municipal Land Transfer Tax (MLTT) in addition to the provincial Land Transfer Tax. Its graduated brackets match Ontario's up to $3,000,000, but since April 1, 2026 homes with one or two single-family residences pay higher Toronto rates above $3,000,000, from 4.40% up to 8.60% over $20,000,000.
Why This Is the Correct Answer
Toronto levies its own Municipal Land Transfer Tax on top of the Ontario Land Transfer Tax. It is a graduated tax whose brackets match the provincial ones up to $3,000,000, with higher Toronto-only rates above $3,000,000 for homes with one or two single-family residences since April 1, 2026.
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- → In Ontario, what is the standard Land Transfer Tax rate for a residential property purchase of $400,000?
- → Which of the following best describes when land transfer tax is typically paid?
- → A first-time buyer purchases a $450,000 home in Ottawa, outside the City of Toronto. Which land transfer tax relief can they claim?
- → Which type of real estate transaction is generally exempt from GST/HST in Canada?
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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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