Tayyib  Shariff

Tayyib Shariff

Sales Representative

RE/MAX PREMIER INC., Brokerage - Wilson Office *

Mobile:
647-888-2369
Office:
416-743-2000
Email Me
Tayyib  Shariff

Tayyib Shariff

Sales Representative

RE/MAX PREMIER INC., Brokerage - Wilson Office *

Mobile:
647-888-2369
Office:
416-743-2000
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.

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Living in Toronto all his life, Tayyib has developed an extensive knowledge of the real estate market from resale to new construction. He is definitely no stranger when it comes to marketing, negotiating and excellent customer service. Throughout the years, he has had the privalege to learn from the success of his father and mentor, a Broker in the business for 20+ years.

From a young age, Tayyib has worked numerous positions in a variety of employment fields contributing to his impressive resume and ability to relate to his clients from all walks of life.

Tayyib's commitment to his customer service transforms pressure packed realty transactions into stress free negotiations for many of his clients who can testify to his integrity, professionalism and understanding of the market. One of the many strengths he prides himself on is the ability to accurately forecast potential problems which may arise, ensuring his clients best interest is always put first.

His techniques for advertising and marketing brings an innovative spin to his business, combined with powerful negotiating skills and use of latest technology. High standards, and good ethics are just some key ingredients to his success in real estate.

If you're looking for a Realtor who is honest, trustworthy and has a strong passion for producing results, then please contact Tayyib Shariff as it would be his pleasure to assist you in all your real estate needs.


 

 

 



Designation: SRS., ABR

Experience: 10+

Awards: RE/MAX 100%, RE/MAX PLATINUM CLUB, RE/MAX HALL OF FAME

Languages Spoken: English