Land Transfer Tax (LTT)
A provincial (and sometimes municipal) tax paid by the buyer at closing on any property transfer — absent in Alberta and Saskatchewan, highest in Ontario/BC/Toronto/Montreal.
Land Transfer Tax (LTT) is a provincial tax paid by the buyer at closing on the transfer of real property. Tax is tiered by purchase price, with rates ranging from 0.5% to 3%+ depending on province and price bracket. Ontario, BC, Manitoba, New Brunswick, Nova Scotia, PEI, and Quebec (Welcome Tax) all charge LTT. Alberta, Saskatchewan, and rural parts of Nova Scotia do not (just registration fees). Some municipalities (Toronto, Halifax) charge an additional Municipal Land Transfer Tax. First-time buyers can qualify for rebates in Ontario ($4,000), BC (full exemption under $500K), PEI, and Toronto ($4,475). The tax is paid in cash at closing (not financeable).