Mike  Chadha

Mike Chadha

Your Real Estate Consultant for Life

RE/MAX Excellence

Mobile:
780-907-2737
Email Me
Mike  Chadha

Mike Chadha

Your Real Estate Consultant for Life

RE/MAX Excellence

Mobile:
780-907-2737
Email Me

Land Transfer Tax Details

Land Transfer Tax

Purchasers in most large Canadian cities can add Land Transfer Taxes to their list of closing costs. Unless you live in Alberta, Saskatchewan, or rural Nova Scotia, land transfer taxes (or property purchase tax) are part of the deal. These taxes, levied on properties that are changing hands, are the responsibility of the purchaser. Depending on where you live, taxes can range from half of a percent to two percent of the total purchase price.

Many provinces have multi-tiered taxation systems that can be complicated. For example, if you purchase a property for $300,000 in Ontario, 0.5% is charged on the first $55,000, 1% is charged on $55,000 - $250,000, while the $250,000 - $400,000 range is taxed at 1.5%. Your total tax bill? $2,975.00.

The following chart illustrates Land Transfer Taxes by province.

ONTARIO
Land Transfer Tax (go to calculator)
Up to $55,000 X 0.5% of total purchase price
From $55,000 to $250,000 X 1% of total purchase price
From $250,000 to $400,000 X 1.5% of total purchase price
From $400,000 up X 2% of total purchase price
BRITISH COLUMBIA
Property Purchase Tax
Up to $200,000 X 1% of total purchase price
From $200,000 up X 2% of total purchase price
MANITOBA
Land Transfer Tax
Up to $30,000 N/A
From $30,000 to $90,000 X 0.5% of total purchase price
From $90,000 to $150,000 X 1% of total purchase price
From $150,000 up X 1.5% of total purchase price
QUEBEC
Transfer Tax
Up to $50,000 X 0.5% of total purchase price
From $50,000 to $250,000 X 1% of total purchase price
From $250,000 up X 1.5% of total purchase price
Halifax Metro
1.5% on total purchase price
Outside HalifaxCounty
Check with local municipality.

 

Have Questions?

In today's challenging Real Estate market, your choice of Real Estate Professional does matter! For a greater probability of success you need a dedicated professional, one who can guide you through the process and be counted on to protect your investment! Get to know me, knowledgeable, results-oriented professional.

 

Hi, My name is Mike Chadha. I am a residence of Edmonton for  over 25 years and have been involved in all aspects of Real estate for the past 15 years. I arrived in Edmonton in 1988 when the Edmonton was a much smaller but still very vibrant community. Over the years I have seen many changes in our community that have made a positive impact in all of our lives.

1998 I graduated with a diploma in Computer Systems Technology from Northern Alberta Institute of Technology, Edmonton.

 

After graduation, I joined the Federal Government of Canada as a software developer and served for 8 years. I received many awards including the 2003 Federal Council Award and Albert Blair Award for conception and development of Labour Market Information application.

 

I have also served as an Instructor in the Computer Systems Technology division at the Northern Alberta Institute of Technology, Edmonton for over 2 years.

 

Since 2003 I have been serving our community as a full time real estate agent. Since then I have also been involved in construction of new homes, remodeling older homes, investment properties, commercial investments and leasing.

During my last 15 years I was awarded several accolades including the "Top Realtor" in the office of 78 other real estate agents and 2016 Re/Max Hall of Fame Award.

 

My vast experience in technology, government programs, new home construction, remodeling older homes and investment properties allows me to help my clients purchase or sell properties for the best price possible. I also use the computer extensively to find the best deals for my client and aggressively market the property utilizing many online/offline marketing tools.

Whether you are purchasing, selling or wish to investigate the possibilities, I care about your needs and will take the time to provide personal attention and 100% client satisfaction.

I promise to provide the most professional, ethical and informed real estate services in the Industry. My most important assets are honesty and integrity, whereby my clients become my friends.

Call me at 780-907-2737 and I will be happy to answer any question you may have!

 


Education: Computer Science

Specialty: Residential and Commercial

Experience: 16

Awards: Re/Max International Hall of Fame

Area Covered: Edmonton, St. Albert, Sherwood Park, Beaumont, Leduc, Nisku, Morinville, Fort Saskatchewan