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Land Transfer Tax Calculator for London, Ontario
Enter your purchase price to see your Ontario land transfer tax, your first-time home buyer refund, and how much you save compared with Toronto. Built by the real estate lawyers at Waseer Law Office.
How Ontario land transfer tax is calculated
Ontario charges land transfer tax in brackets, like income tax. Each rate applies only to the part of the price that falls inside that bracket. These rates apply to a home with one or two single-family residences.
Land transfer tax in London, Ontario: examples
London has no municipal land transfer tax, so you pay the Ontario tax only. The first-time buyer column assumes you qualify for the full $4,000 refund.
First-time home buyer refund
Ontario refunds up to $4,000 of land transfer tax for eligible first-time buyers. To qualify, you must be at least 18, be a Canadian citizen or permanent resident (or become one within 18 months), live in the home within 9 months of buying it, and never have owned a home, or an interest in one, anywhere in the world. If your spouse owned a home while you were together, the refund may be reduced. We apply for the refund for you when we register your purchase.
Closing costs beyond land transfer tax
Plan for legal fees, title insurance, registration fees, adjustments for property tax and utilities the seller prepaid, a home inspection and moving costs. Ask us for a written closing quote before you sign so there are no surprises on closing day.
Land transfer tax questions
How much is land transfer tax on a $500,000 home in London, Ontario?
$6,475. If you are a first-time buyer who qualifies for the full Ontario refund, you pay $2,475. London has no municipal land transfer tax.Does London, Ontario have a municipal land transfer tax?
No. In Ontario, only the City of Toronto charges a municipal land transfer tax on top of the provincial tax. Buyers in London, St. Thomas, Strathroy and the rest of the region pay the Ontario tax only.How much is the first-time home buyer refund in Ontario?
Up to $4,000 of Ontario land transfer tax. That covers all of the tax on homes up to $368,000. Toronto buyers can also get up to $4,475 back on the municipal tax.When is land transfer tax paid?
On closing day. Your real estate lawyer pays it when the transfer is registered, using funds you provide before closing. Budget for it separately from your down payment.Do I pay land transfer tax when I refinance?
No. Land transfer tax applies when ownership transfers, such as a purchase. A refinance does not transfer ownership.Do non-residents pay more?
Yes. Buyers who are not Canadian citizens or permanent residents generally pay Ontario’s non-resident speculation tax on top of land transfer tax, unless an exemption applies. Speak with a lawyer before you sign.
