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Buyin Toronto

Toronto is the only Canadian city that charges land transfer tax twice — once for Ontario and once for the city. Both are banded, both are payable in cash at closing, and together they land near 4% at the million-dollar mark.

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Land titles path
Reserve fund checked
3D map
2×land transfer tax inside the City of Toronto
0%land transfer tax in Alberta
FINTRACsource-of-funds KYC on every closing
Stratareserve fund and depreciation report decide the deal
What a purchase really costs

$900,000 home in Toronto

Land transfer tax (4%)
$36,000
Lawyer, title insurance & disbursements (≈0.4%)
$3,600
Inspection & appraisal (≈0.15%)
$1,350
Cash needed at closing
$940,950

≈ +4.6% over the price. Land transfer tax is provincial and, in Toronto, charged twice — once by Ontario and once by the city. Alberta charges none at all and takes registration fees instead. The rates are banded, so the percentages here are effective rates at the sample price, not a flat levy. Foreign-buyer prohibitions and provincial surtaxes have changed more than once — read the statute in force on your closing date.

Rentals run on rules

The rent side, in three lines

  • Rent increase guidelines are provincial and annual — Ontario publishes a percentage, British Columbia publishes its own, Alberta publishes none.
  • Deposit rules differ sharply: Ontario allows last month’s rent, British Columbia allows a half-month security plus a half-month pet deposit.
  • Empty-home and speculation taxes apply in Vancouver, Toronto and across Metro Vancouver — an overseas lock-up is not a free hold.

In a condo the reserve fund study is the yield. A special assessment outranks every projection in the brochure.

Cities

Six metros, ten provincial rulebooks

Canada devolves the transaction to the province. Toronto stacks a municipal tax on the Ontario one; Alberta charges neither. The same price closes very differently in Calgary and in the 416.

Ontario applies a non-resident speculation tax on top for foreign buyers. First-time buyer rebates exist at both the provincial and municipal level; an investor qualifies for neither. Budget the statute in force on your closing date.

In a condo the status certificate is the deal: the reserve fund study, the current balance, any special assessment and any litigation. A special assessment voted the month after closing is still yours.

Pre-construction assignments are a separate contract file with occupancy fees, an interim closing and a builder's right to amend. They are not simply a cheaper resale.

FAQ

How much are the two land transfer taxes?
Provincial plus the City of Toronto's municipal levy. On a $900,000 purchase inside the city they come to roughly 4% combined — the single largest closing line.
Can a non-resident buy?
Check the federal prohibition in force and Ontario's speculation tax before you commit. The rules have changed more than once and this page will not pretend a frozen answer.

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