Does the seller pay land transfer tax in Ontario?

No. Ontario land transfer tax is paid by the person acquiring the land, when the purchase closes. A downsizer meets it on the next home, which is why this calculator asks for that price too. Only the City of Toronto adds a municipal land transfer tax, so a purchase in Waterloo, Kitchener or Cambridge pays the provincial tax alone.

Can I get the first-time buyer refund on my next home?

No. The refund of up to $4,000 is for buyers who have never owned a home anywhere in the world, and the province says previous ownership means you do not qualify.

Will I pay tax on the gain when I sell?

If the home was your principal residence for every year you owned it, the gain is usually exempt, but the Canada Revenue Agency still requires you to report the sale and the designation on your return for that year, on Schedule 3 and Form T2091. A cottage, a rental or a home you rented out for part of the time works differently. Ask an accountant before you list.

Does this calculator save what I type?

No. The math runs in your browser and nothing you enter is sent anywhere or stored.

Waterloo Downsizing Calculator: Net Proceeds and LTT

How the estimate works

The sale. The calculator takes your price, subtracts the commission you enter and 13 percent HST on that commission, then your other selling costs and whatever you still owe on the home.

The next purchase. Ontario land transfer tax is charged in bands, each rate applying only to the slice of the price inside its band.

Slice of the purchase price	Rate
Up to $55,000	0.5%
$55,000 to $250,000	1.0%
$250,000 to $400,000	1.5%
Over $400,000	2.0%
Over $2,000,000, for one or two single family residences	2.5%

Purchase price	Ontario land transfer tax
$400,000	$4,475
$600,000	$8,475
$900,000	$14,475

Source: Government of Ontario, Calculating land transfer tax and Land transfer tax. The $400,000 figure is the province's own worked example; the other two apply the same bands. On HST: Canada Revenue Agency, GST/HST in special cases, which says a registered agent charges GST/HST on commission.

What the calculator leaves out

Legal fees on the purchase, title insurance and moving costs. Your lawyer can quote the first two.
HST on a brand new home. A resale home has none. A newly built home does, with rebates that depend on the price and the date of the agreement. Ask the builder and your lawyer how the price is quoted.
Adjustments on closing. Property tax, utilities and condo fees are divided between buyer and seller as of the closing date. Your lawyer prepares the statement of adjustments.
Tax on the gain. A principal residence is usually exempt, but the sale must still be reported. See Costs and Taxes and estimating your net proceeds.
Non-resident rules. Buyers who are not citizens or permanent residents can face the province's 25 percent Non-Resident Speculation Tax, and non-resident sellers have federal withholding rules. Both need a lawyer.

An estimate, not a statement of adjustments. Your lawyer prepares the real numbers for both closings. This page is general information, not tax or legal advice.

Want a local professional to run real numbers on your home? Get matched with a Waterloo area agent.

Waterloo downsizing calculator

How the estimate works

What the calculator leaves out