Home » Canada » Canada – Property Taxes

Canada – Property Taxes

When buying or selling a house in Canada, there are several taxes and fees that may be involved. These include:

Property Transfer Tax: This tax is typically paid by the purchaser and is based on the purchase price of the property. The rate varies by province, with some provinces having a progressive rate based on the purchase price.

Land Transfer Tax: This tax is typically paid by the purchaser and is based on the purchase price of the property. The rate varies by province, with some provinces having a progressive rate based on the purchase price.

GST/HST: The goods and services tax (GST) and the harmonized sales tax (HST) may be applicable to the purchase of a new home.

Property Tax

: Property tax is paid annually and is based on the assessed value of the property. The rate varies by municipality.


Get Our Best Articles Every Month!

Get our free moving abroad email course AND our top stories in your inbox every month


Unsubscribe any time. We respect your privacy - read our privacy policy.


Capital Gains Tax (CGT)

: A capital gains tax may be payable on the sale of a property if the property was not the seller’s primary residence and the seller made a profit on the sale.

Inheritance Tax

: There is no inheritance tax in Canada, but there may be tax implications when inheriting a property.

Gift Tax

: There is no gift tax in Canada, but there may be tax implications when gifting a property.

Tax on Property Income

: Income from renting out a property is subject to income tax, and any expenses incurred while renting out the property can be claimed as deductions.

Tax Advantages of Buying a House in Canada

Homeowners may be eligible for certain tax benefits, such as the home buyers’ plan, which allows first-time homebuyers to withdraw up to $25,000 from their RRSPs to put towards the down payment of a home. Additionally, mortgage interest and property taxes may be tax-deductible. It is important to consult a tax professional for advice on specific tax implications and benefits related to purchasing a home in Canada.


Latest Videos

Expat Focus Financial Update February 2024 #expat #expatlife

Expat Focus 28 February 2024 1:53 pm

This error message is only visible to WordPress admins

Important: No API Key Entered.

Many features are not available without adding an API Key. Please go to the YouTube Feed settings page to add an API key after following these instructions.