Owning a condo in Toronto is a dream that we all share. With the amount of space they offer, world-class amenities and facilities, 24/7 security, and proximity to urban areas, you cannot match the level of luxury available at one's disposal. Although many buyers are cautious when signing the sales agreement, they ignore other documents, considering them too taxing to understand. Additional fees and taxes, such as prevailing property tax rates, are essential fees to understand to keep... [read more]

Toronto Land Transfer Tax Guide - TCT Purchasers must pay a one-time land transfer tax when buying real estate in Canada. Land transfer tax deductions and refunds are available in specific instances. Let's learn more about land transfer tax. About Land Transfer Tax Depending on where you live, the province or the municipality collects land transfer tax money. There is a land transfer tax in every region. However, it may go by various names. Land transfer taxes are not uniform... [read more]

How to avoid capital gains tax on rental property in Canada? If you’ve landed on this page, you most likely googled “How to avoid capital gains tax on a rental property in Canada”. Our real estate professionals at Toronto Condo Team covers everything you what you need to know about capital gains tax for rental properties in Canada. You might have to pay capital gains tax if you have a rental property. This type of tax occurs when a person sells more than the purchase... [read more]

All you need to know about the Land Transfer Tax in Canada Land transfer tax is a tax you have to pay to the provincial government upon the purchase of a new home or a piece of land in Canada. The tax depends upon the rate of the property being bought. The tax is levied on buyers in all provinces of Canada with the exception of two: Alberta and Saskatchewan. The tax is a percentage value that applies to the rate of the property and is due upon the closing of the transaction. You can... [read more]