A second land transfer tax, on top of the provincial land transfer tax, at the following rates:
Residential:
- 0.5% of the amount of the purchase price up to and including $55,000, plus
- 1% of the amount of the purchase price between $55,000 and $400,000, plus
- 2% of the amount of the purchase price above $400,000
Commercial / Industrial / Etc.:
- 0.5% of the amount of the purchase price up to and including $55,000, plus
- 1% of the amount of the purchase price between $55,000 and $400,000, plus
- 1.5% of the amount between $400,000 and $40 million, plus
- 1% of the amount above $40 million
When does this take effect?
February 1, 2008.
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