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.
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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