To calculate the total LTT payable for residential properties, add the following together:
0.5% on the first $55,000
plus 1.0% of the amount from $55,001 to $250,000
plus 1.5% of the amount in excess of $250,001 to $400,000
plus 2.0% of the amount in excess of $400,000
OR use the following table:
| Purchase Price | Calculation of LTT |
| $0 ~ $55,000 | .005 x Amount |
| $55,001 ~ $250,000 | ( .01 x Amount ) minus $275 |
| $250,001 ~ $400,000 | ( .015 x Amount ) minus $1,525 |
| $400,000 up | ( .02 x Amount ) minus $3,525 |
If the purchase price falls within this range, then apply formula to purchase price (e.g. on a $175,000 home (.01 X 175,000) minus 275=LTT) For additional information please contact the Ontario Ministry of Finance (Mr. Ron Hogan 416-325-2175).
For examples:
| $55,000 | $275 |
| $60,000 | $325 |
| $65,000 | $375 |
| $70,000 | $425 |
| $75,000 | $475 |
| $80,000 | $525 |
| $85,000 | $575 |
