How is it calculated?
Ontario land transfer tax brackets on a home: 0.5% to $55,000; 1% to $250,000; 1.5% to $400,000; 2% to $2 million; 2.5% above $2 million (one- or two-family homes). First-time buyers get up to $4,000 back.
| Portion of price | Rate |
|---|---|
| Up to $55,000 | 0.5% |
| $55,000–$250,000 | 1.0% |
| $250,000–$400,000 | 1.5% |
| $400,000–$2,000,000 | 2.0% |
| Over $2,000,000 (1–2 family homes) | 2.5% |
Worked example
$900,000 home in Ontario (outside Toronto)
Land transfer tax: $14,475
First-time buyer refund: −$4,000
You pay: $10,475
What should I do with the result?
Use it to set a budget or a target rate, then let lenders bid on your actual mortgage. Bids include rate, penalty method, prepayment and fees, so you can compare the full cost.
Frequently asked questions
Who qualifies for Ontario's first-time buyer refund?
Buyers who have never owned a home anywhere and who occupy it within nine months. Up to $4,000 is refunded.
Is there land transfer tax on a refinance?
No.
MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
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