Land Transfer Tax Calculator London Ontario

When buying or selling property in London, Ontario, you'll need to pay land transfer tax. This calculator helps you estimate your tax obligation based on the purchase price and your relationship to the property.

How the Land Transfer Tax Works in London, Ontario

Land transfer tax in London, Ontario is a provincial tax imposed on the transfer of real property. The tax is calculated based on the purchase price of the property and your relationship to the property.

The tax is calculated in two parts: the first part is based on the first $200,000 of the purchase price, and the second part is based on the amount over $200,000. The tax rates vary depending on whether you are the first-time home buyer, a subsequent home buyer, or a non-residential property buyer.

Formula

Land Transfer Tax = (First $200,000 × Rate 1) + (Amount over $200,000 × Rate 2)

The tax is payable to the Ontario Land Transfer Tax Office. The tax must be paid within 30 days of the date of transfer, or within 60 days if the transfer is a transfer of a property to a corporation.

Land Transfer Tax Rates in London, Ontario

The land transfer tax rates in London, Ontario are as follows:

Purchase Price	First-Time Home Buyer	Subsequent Home Buyer	Non-Residential Property
First $200,000	0.5%	1.5%	1.5%
Amount over $200,000	1%	2%	2%

There are exemptions for certain types of properties, such as properties used for agricultural purposes or properties that are transferred to a charitable organization.

How to Use This Calculator

To use this calculator, simply enter the purchase price of the property and select your relationship to the property. The calculator will then calculate the land transfer tax based on the rates for London, Ontario.

The calculator will display the total land transfer tax, as well as a breakdown of the tax based on the two parts of the calculation.

This calculator provides an estimate of the land transfer tax. The actual tax may vary depending on the specific circumstances of the transfer.

Example Calculations

Here are some examples of how the land transfer tax is calculated for different purchase prices and relationships to the property.

Example 1: First-Time Home Buyer

Purchase Price: $250,000

Relationship: First-Time Home Buyer

Calculation:

First $200,000 × 0.5% = $1,000
Amount over $200,000 ($50,000) × 1% = $500
Total Land Transfer Tax = $1,500

Example 2: Subsequent Home Buyer

Purchase Price: $300,000

Relationship: Subsequent Home Buyer

Calculation:

First $200,000 × 1.5% = $3,000
Amount over $200,000 ($100,000) × 2% = $2,000
Total Land Transfer Tax = $5,000

Example 3: Non-Residential Property

Purchase Price: $400,000

Relationship: Non-Residential Property

Calculation:

First $200,000 × 1.5% = $3,000
Amount over $200,000 ($200,000) × 2% = $4,000
Total Land Transfer Tax = $7,000

Frequently Asked Questions

What is land transfer tax?: Land transfer tax is a provincial tax imposed on the transfer of real property in Ontario. The tax is calculated based on the purchase price of the property and your relationship to the property.
How is land transfer tax calculated in London, Ontario?: The land transfer tax is calculated in two parts: the first part is based on the first $200,000 of the purchase price, and the second part is based on the amount over $200,000. The tax rates vary depending on whether you are the first-time home buyer, a subsequent home buyer, or a non-residential property buyer.
Who is exempt from land transfer tax in London, Ontario?: There are exemptions for certain types of properties, such as properties used for agricultural purposes or properties that are transferred to a charitable organization.
When is land transfer tax due?: The tax is payable to the Ontario Land Transfer Tax Office. The tax must be paid within 30 days of the date of transfer, or within 60 days if the transfer is a transfer of a property to a corporation.
Can I appeal a land transfer tax assessment?: Yes, you can appeal a land transfer tax assessment if you believe the assessment is incorrect. You must file an appeal with the Ontario Land Transfer Tax Office within 30 days of receiving the assessment.