When you purchase land or any interest in land in the province of Ontario, there is a requirement for you to pay Provincial Land Transfer Tax. Although there are potential rebates for first time homebuyers, it is important to understand what your potential liability would be before entering into a purchase agreement.
In cases where you have made this purchase of land in Toronto, there is an additional Municipal Land Transfer Tax.
Use this handy tool to calculate what your land transfer tax liability could be based on different purchase scenarios.