# Newfoundland Land Transfer Tax Calculator

When you a buy a house or condo in Newfoundland you are subject to land transfer tax on closing. Use Ratehub.ca’s calculator to determine your land transfer tax or view Newfoundland’s current rates below.

## Ratehub.ca's land transfer tax calculator

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## Land transfer tax rates in Newfoundland

In Newfoundland and Labrador, the land transfer tax is charged on the property value and mortgage amount as follows:

 Property value Tax amount \$500 or less \$100.00 greater than \$500 \$100.00 plus \$0.40 for each additional one hundred dollars of value or part of one hundred dollars. Mortgage value Tax amount \$500 or less \$100.00 greater than \$500 \$100.00 plus \$0.40 for eac

### Newfoundland land transfer tax example calculation

Let’s assume you are purchasing a house worth \$500,000 with a 20% down payment resulting in a \$400,000 mortgage.

#### 1. Land transfer tax on the property value

• ( \$500,000 property value \$500 lower tax bracket )
÷ \$100 tax portion size
= 4995 portions of value up to \$100 (round up)

• \$100 base value
+ ( \$0 tax per \$100 portion × 4995 portions of value up to \$100 )
= \$2,098 land transfer tax on property value

#### 2. Land transfer tax on the mortgage amount

• ( \$400,000 mortgage amount \$500 lower tax bracket )
÷ \$100 tax portion size
= 3995 portions of value up to \$100 (round up)

• \$100 base value
+ ( \$0 tax per \$100 portion × 3995 portions of value up to \$100 )
= \$1,698 land transfer tax on property value

#### 3. Total land transfer tax

• \$2,098 land transfer tax on property value \$1,698 land transfer tax on property value
\$3,796 totaltransfer tax on property value