JOHN   RICHARD

JOHN RICHARD

Sales Representative

RE/MAX NIAGARA REALTY LTD,BROKERAGE*

Mobile:
905-359-5040
Office:
(905) 356-9600
Email Me
JOHN   RICHARD

JOHN RICHARD

Sales Representative

RE/MAX NIAGARA REALTY LTD,BROKERAGE*

Mobile:
905-359-5040
Office:
(905) 356-9600
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.

 

Have Questions?

Shannon Richard

Shannon has been actively trading in Real Estate since 2004 and has successfully put together 300+ home sales. She attributes her personal success to the fact that she considers professionalism, trustworthiness and ability to negotiate the utmost important skills when buying or selling Real Estate. When she pairs these qualities with her knowledge of the Niagara market and her dedication to assisting clients in one of their most important decisions, she ends up achieving her goal of complete client satisfaction.

Shannon has been with the ReMax Niagara Realty Ltd. since obtaining her Real Estate license and has successfully achieved the “Executive Club” award five times and the  “100% Club” award five times. Her most recent designation has been obtaining the “Hall of Fame” award. Shannon looks forward to working toward many more designations in the future. Shannon and John look forward to hearing from you and to helping with all your Real Estate needs.

 

John Richard

Born and raised in Niagara Region with 20+ years of Sales, Management and Customer Relations experience. Energetic, positive, analytical and assertive best describes John Richard. A top 10% salesperson with 20-30 million in annual sales, and managing up to 100+ employees for the last decade provide the skill set for selling or purchasing your next home or investment property.

Negotiation, salesmanship, marketing and managing are all tools needed especially in today’s real estate market.  Oh… and one last important piece, for the last 14 years, John has been shadowing his wife Shannon Richard, Sales Representative and recent recipient of the RE/Max Hall of Fame award.

John is looking forward to working with you to make your real estate dreams a reality according to your lifestyle.