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Notes, continued

(3) Alberta and Saskatchewan levy a registration fee on transfers of interests in land,

mortgages and other charges based on the value of the property being transferred. The

fees indicated in the table apply to transfers of land. The fees applicable to mortgages and

other charges generally differ from the land transfer fee.

(4) Manitoba levies land transfer tax on registered transfers of land based on the value of

the property being transferred. Exemptions may apply to certain mortgages, leases,

dissolutions or wind-ups of wholly owned subsidiaries, transfers to registered charities,

transfers that facilitate a subdivision to or from a trustee where there is no change of

beneficial ownership, transfers of farmland, certain transfers to veterans or the spouses or

common law partners of veterans, and conveyances of title between spouses. The 2013

Manitoba Budget proposed that land transfer tax provisions will be amended to provide

the Registrar-General with the authority to exempt the transfer of property subject to

retail sales tax, exempt a statutory easement the first time it is registered, provide tax

relief for court ordered rescissions, or mutually agreed-upon sales reversals, and issue an

assessment notice under general anti-avoidance rules where the conveyance of title is

registered in order to reduce or eliminate tax in a manner that is an avoidance transaction.

(5) Ontario levies land transfer tax (OLTT) on dispositions of beneficial interests in land,

whether or not the transfer is registered, based on the value of the consideration

furnished. Exemptions may apply to certain mortgages, leases under 50 years, certain

unregistered dispositions, certain transfers between spouses, transfers of farm land

between family members or from a family farm corporation to individual family members,

certain transfers of land from an individual to a family business corporation, certain

transfers of land by registered charities after March 25, 2010, certain transfers of life lease

interests, and certain conveyances of mineral lands. A deferral and ultimate cancellation of

land transfer tax is available on certain transfers between affiliated corporations. A rebate,

to a maximum of $2,000, is available to first-time buyers of newly constructed or resale

residential property.

(6) In addition to OLTT, Municipal Land Transfer Tax (MLTT) is levied under Chapter 760,

Taxation, Municipal Land Transfer Tax, of the Toronto Municipal Code, passed under

the authority of section 267 of the City of Toronto Act, 2006 (Ontario), as amended, on

dispositions of beneficial interests in land located in the City of Toronto with closing dates

on or after February 1, 2008. Exemptions apply to a transferee which is the Crown or a

Crown Agency, certain Ontario government bodies, school boards, universities, colleges,

hospitals, nursing homes, the Toronto Community Housing Corporation, the Toronto

Economic Development Corporation and the City of Toronto. All conveyances exempt from

OLLT are also exempt from MLTT. A rebate to a maximum of $3,725 is available to first-

time buyers of newly constructed or resale residential property.

(7) Québec levies land transfer tax on registered transfers of immovable property based on the

greatest of the consideration furnished, the consideration stipulated, and the fair market

value of the property. Exemptions may apply to certain mortgages, leases under 40 years,

amalgamations, transfers between family members and closely related corporations,

where the transferee is a public body and where both the transferor and transferee are

registered charities.

Provincial Land Transfer Taxes and Registration Fees

Current as of May 3, 2013