Land Transfer Taxes (LTT) are provincial taxes levied on the exchange of real estate, and are the responsibility of the purchaser. Usually the LTT is a percentage of the property value. All provinces have a land transfer tax except Alberta and Saskatchewan (who instead levy a much smaller fee). Note that Ontario, Toronto, B.C. and PEI there are LTT rebates for first time homeowners. Also, keep in mind that Toronto is an exception as it charges an additional municipal tax (see Toronto section for additional information).
Alberta does not have a land transfer tax, however, the province does charge title transfer fees. The fees are levied on the property value and mortgage. You can calculate the cost as shown below:
A = Property Value ÷ 5000 (rounded up to the nearest whole number)
B = Mortgage Amount ÷ 5000 (rounded up to the nearest whole number)
Title Transfer Fees = [$35 + ($1 * A)] + [$15 + ($1 * B)]
Marc has just purchased a home in Alberta with a property value of $300,000 and a mortgage of $220,000. What will Marc have to pay in terms of title transfer fees?
A = 300,000 ÷ 5000 = 60
B = 220,000 ÷ 5000 = 44
Title Transfer Fees = [$35 + ($1 * 60)] + [$15 + ($1 * 44)] = $154
Therefore, Marc must pay $154 in title transfer fees.