Land Transfer Tax Calculation -- Residential

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To calculate the total LTT payable for residential properties, add the following together:

0.5% on the first $55,000

plus 1.0% of the amount from $55,001 to $250,000

plus 1.5% of the amount in excess of $250,001 to $400,000

plus 2.0% of the amount in excess of $400,000

OR

use the following table:

Purchase Price
Calculation of LTT

0 - 55,000
.005 x Amount

55,001 - 250,000
(.01 x Amount) minus 275

250,001 - 400,000
(.015 x Amount) minus 1,525

400,000 +
(.02 x Amount) minus 3,525




If the purchase price falls within this range, then apply formula to purchase price

(e.g. on a $175,000 home (.01 X 175,000) minus 275=LTT)