Mehrdad  Maghsoud

Mehrdad Maghsoud

Sales Representative

RE/MAX Realtron Realty Inc., Brokerage*

Mobile:
437-990-9333
Office:
416-222-8600
Email Me
Mehrdad  Maghsoud

Mehrdad Maghsoud

Sales Representative

RE/MAX Realtron Realty Inc., Brokerage*

Mobile:
437-990-9333
Office:
416-222-8600
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.

 

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I am an experienced architect who works in real estate field.

I have a natural propensity for customer service and intuitively know what type of property my client is looking for, even if they haven’t eloquently described it.

My ability to observe what the client’s needs are and listening to their wants has made me an instant success and a client favorite.

I believe that your home is your sanctuary, and should be treated as such. Whether you’re buying your first home or seeking that dream retirement residence, the experience should be nothing less than seamless.

As a family man and homeowner myself, I understand that your home is more than just a place to live — it’s where you make long-lasting memories.  I help my clients navigate the often challenging waters of the home buying and selling process, with the end result only being a wonderful experience.



Education: OREA Real Estate Agent, Masters in Architecture, York Academy Construction Technology

Specialty: Residential home, Residential condo, Pre-construction

Area Covered: Toronto, Markham, Vaughan, Richmond hill, Aurora, Newmarket

Languages Spoken: English, Farsi