Frank  Giralico

Frank Giralico

Sales Representative

Capital North Realty Corporation Brokerage

Mobile:
416-508-0689
Office:
416-798-7777
Email Me
Frank  Giralico

Frank Giralico

Sales Representative

Capital North Realty Corporation Brokerage

Mobile:
416-508-0689
Office:
416-798-7777
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated.
For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

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416-508-0689

  

416-798-7777

  

Even before becoming a realtor, Frank Giralico knew a thing or two about houses. Constructing homes had been his family’s business until he made the change to buying, selling and leasing them. With a belief that the home is the cornerstone of every family, an outgoing attitude and tireless commitment to his clients Frank’s since earned a reputation for bringing people and their dreams together. From the first year in his new career as a sales representative in 2008 he won HomeLife’s Gold and Silver Award and he’s won it every year since and counting.

Along with his knowledge of construction techniques Frank draws on his degree in Finance and background in accounting to provide his clients with comprehensive and well-rounded advice when it comes to real estate. Equally proficient handling residential or commercial properties throughout Toronto and surrounding regions, his true specialty is listening to his clients’ needs then working to see they’re met. While his background, experience and record of success exude professionalism, Frank remains a people person who treats clients like family.



Languages Spoken: English, Italian