|
| For residential properties |
| Purchase Price |
Calculation
of Land Transfer Tax |
| 0 to $55,000 |
.005 x Amount |
| $55,001 to $250,000 |
(.01 x Amount) minus
275
|
| $250,001 to $400,000 |
(.015 x Amount) minus
1,525 |
| Greater than $400,000 |
(.02 x Amount) minus
3,525 |
Example: Purchase
Price = $275,000
Land Transfer Tax = (.015 x $275,000) minus
$1,525 = $2,600 |
| For commercial properties |
| Purchase Price |
Calculation
of Land Transfer Tax |
| 0 to $55,000
|
.005 x Amount |
| $55,001 to $250,000 |
(.01 x Amount) minus
275
|
| Greater than $250,000 |
(.015 x Amount) minus
1,525 |
Example: Purchase
Price = $375,000
Land Transfer Tax = (.015 x $375,000) minus
$1,525 = $4,100 |
|
