Newfoundland Land Transfer Tax

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When you a buy a house, condo or land in Newfoundland you are subject to land transfer tax which is due upon closing. Use Ratehub.ca’s calculator to determine your applicable land transfer tax or view Newfoundland's 2017 rates below and follow along with our sample calculation.

Newfoundland land transfer tax calculator

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Provincial: Provincial Land transfer tax (LTT), typically calculated as a percentage of the purchase price of a home, is required when purchasing a home in Canada. All provinces have a LTT, and the amount varies in each province. plus
 
Municipal: Municipal Some municipalities, like Toronto, levy an additional LTT, which is similarly calculated as a percentage of the purchase price of a home. plus
 
Rebate: Rebate If you are a first-time home buyer in British Columbia or Ontario, you will be eligible for LTT rebates, equal to the value of the LTT up to a maximum amount set by the province. minus
 

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Land transfer tax rates in Newfoundland – Updated in 2016

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

Property Value Tax ammount
$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 each additional one hundred dollars of value or part of one hundred dollars.

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.

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
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
$100 base value ( $0 tax per $100 portion 3995 portions of value up to $100) =
$1,698 land transfer tax on mortgage value
Total land transfer tax
$2,098 fee on property $1,698 fee on mortgage =
$3,796 land transfer tax on property value