Toronto’s Land Transfer Tax: Coming to a Neighbourhood Near You.

Hanley TeamTaxLeave a Comment

As Toronto’s nightmare continues, Ontario’s is just beginning. The provincial government is ready to give municipalities the right to levy new municipal land transfer taxes in their own jurisdictions – potentially doubling the tax currently paid when a property is purchased.

If introduced province-wide, the effect will be dramatic: the tax on a home purchased for $400,000, for example, will jump from $4,475 to $8,950. That’s the highest land transfer tax in North America, and soon you’ll be paying it too.

When affordability hangs in the balance, another new tax will be a tipping point for many. Take action and make your move now. Say NO to the tax at www.donttaxmydream.ca

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