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Provincial Taxes and Benefits
City in the Fall

Provincial Taxes and Benefits

All Canadian area specific fees, taxes, and rebates at your finger tips

Navigating Provincial Taxes and Benefits: Your Home Buying Guide

 

Buying a home is an exciting journey, but it's essential to be aware of the provincial taxes, fees, and potential benefits specific to your region. We've compiled a comprehensive list of Canadian provinces, their associated taxes, and available benefits, keeping in mind that these details may change over time (we'll do our best to keep them updated).

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Provincial Taxes and Benefits at a Glance:

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Provincial Taxes: Every Dollar Counts

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In addition to the standard closing costs associated with purchasing a home, you'll need to consider provincial or municipal charges, which can vary depending on your location. While these costs are a necessary part of the process, it's important to be aware of them upfront.

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Moreover, many provinces offer tax credits or rebates (in addition to federal ones) to eligible homebuyers, particularly first-time buyers. These benefits can significantly impact your financial situation. To get personalized details regarding your situation, reach me at MortgagePal.

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Provincial Breakdown:

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Alberta

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Taxes or Fees:

  • Land Title Transfer Fee

  • 5% GST on New Builds

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Rebates or Benefits:

  • None

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British Columbia

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Taxes or Fees:

  • 5% GST on New Builds

  • Property Transfer Tax

  • Non-Resident Transfer Tax

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Rebates or Benefits:

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  • FTHB Exemption

  • Newly Built Home Exemption

  • First Nations Exception

  • BC Home Owner Grant

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Manitoba

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Taxes or Fees:

  • 5% GST on New Builds

  • Land Transfer Tax

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Rebates or Benefits:

  • Rural Homeownership Program

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New Brunswick

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Taxes or Fees:

  • 5% GST on New Builds

  • Real Property Transfer Tax

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Rebates or Benefits:

  • Home Ownership Program

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Newfoundland & Labrador

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Taxes or Fees:

  • Registration of Deeds Fee

  • 5% GST on New Builds

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Rebates or Benefits:

  • None

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Northwest Territories

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Taxes or Fees:

  • Land Title Fees

  • 5% GST on New Builds

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Rebates or Benefits:

  • None

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Nova Scotia

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Taxes or Fees:

  • Non-Resident Deed Transfer Tax

  • 5% GST on New Builds

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Rebates or Benefits:

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  • 6-Month Exemption for NRDTT

  • Other Exemptions

  • FTHB Rebate on Newly Built Home

  • Down Payment Assistance Program

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Nunavut

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Taxes or Fees:

  • 5% GST on New Builds

  • Land Title Tariff Fees

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Rebates or Benefits:

  • None

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Ontario

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Taxes or Fees:

  • 5% GST on New Builds

  • 8% PST on Default Insurance

  • Land Transfer Tax

  • Non-Resident Speculation Tax

  • Municipal Land Transfer Tax (Toronto only)

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Rebates or Benefits:

  • FTHB Refund

  • FTHB Rebate (Toronto only)

  • Other Rebates (Toronto only)

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Prince Edward Island

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Taxes or Fees:

  • 5% GST on New Builds

  • Real Property Transfer Tax

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Rebates or Benefits:

  • FTHB Exemption

  • Other Exemptions

  • Down Payment Assistance Program

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Quebec

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Taxes or Fees:

  • 5% GST on New Builds

  • 9% PST on Default Insurance

  • Property Transfer Duties (Welcome Tax)

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Rebates or Benefits:

  • Home Buyers' Tax Credit

  • Other Exemptions

  • Home Buyer Assistance (Montreal only)

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Saskatchewan

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Taxes or Fees:

  • 5% GST on New Builds

  • 7% PST on Default Insurance

  • Land Title Transfer Fee

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Rebates or Benefits:

  • Exemptions for Purchase Price

  • FTHB’s Tax Credit

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Yukon

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Taxes or Fees:

  • 5% GST on New Builds

  • Land Title Fees

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Rebates or Benefits:

  • None

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Please consult with me to receive personalized guidance on how these provincial taxes, fees, and benefits may apply to your unique home-buying situation. We're here to simplify the process and help you make informed decisions on your homeownership journey.

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