Thomas  Tai

Thomas Tai

Broker of Record

Tommy Tai Real Estate Ltd., Brokerage *

Mobile:
416-457-8686
Office:
905-279-2228
Email Me
Thomas  Tai

Thomas Tai

Broker of Record

Tommy Tai Real Estate Ltd., Brokerage *

Mobile:
416-457-8686
Office:
905-279-2228
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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416-457-8686

  

905-279-2228

  

About Me

Work:

2002-Present  Tommy Tai Real Estate Ltd., Brokerage & TT Immigration Canada Inc.
Real Estate Broker of Record, Property Manager, Immigration Consultant
 
2011-2012  Immigration Consultants of Canada Regulatory Council
Practice management and Education Committee Member
 
2008-2012  Tommy Tai Mortgages Inc.
Mortgage Broker
 
1998-2001  Canada Revenue Agency
Instructor to new recruits on the ITA & CRA procedures. 
Project Manager for CRA United Way.
 
1998-2001  Public Works and Government Services Canada
Obtained the following positions, cancel due to lack of budget: 
Real Estate Officer (AS-3) 
Senior Real Estate Manager (AS-5) 
Regional Director: Southern Ontario (AS-7)
 
1993-2002  Living Realty, Re/Max, Century 21
Real Estate Broker


Education:
  • Bachelor of Commerce (Ryerson University)
  • Immigration Law (York College)
  • Immigration Law (UBC)

REAL ESTATE

  • Ontario Mortgage Broker (FSCO and IMBA)
  • Certified Leasing Officer (CLO) Candidate
  • Certified Property Manager (CPM) In progress
  • Certified Real Estate Specialist (CRES)
  • Fellow of the Real Estate Institute (FRI)
  • Member of Real Estate Institute of Canada (REIC)
  • Member of Toronto Real Estate Board - Broker member (TREB)
  • Ontario Real Estate Broker (OREA, RECO and CREA)
  • Ontario Mortgage Broker
  • Ontario Real Estate Office Manager
  • Ontario Real Estate Sales Representative

IMMIGRATION LAW

  • Regulated Canadian Immigration Consultant (RCIC)
  • Member of Immigration Consultants of Canada Regulatory Council (ICCRC)
  • Practice Management and Education Committee Member of Immigration Consultants of Canada Regulatory Council (ICCRC)
  • Fellow of the Canadian Migration Institute (FCMI)
  • Certified Canadian Immigration Consultant (CCIC)
  • Member of Canadian Society of Immigration Consultants (CSIC)


Specialty: Real Estate and Property Management since 1993
 
Immigration Law since 2009

Mortgage since 2008


Experience: 45+ years (combined Mother & Son)

Languages Spoken: Chinese, English, Mandarin