The lawyer or notary you choose will determine the final numbers.   The spreadsheet below will give you an approximate idea of the net proceeds OR shortfall when selling and purchasing.   

• ​Please enter the numbers in the fields highlighted in "White".
• This spreadsheet will only calculate property transfer tax on properties up to $2,000,000 and no higher.

Approximate proceeds (Net or Shortfall) when selling and purchasing as per above

• Please  note the realtor fees are approximate and confirm with the realtor you are using.  I am using 7% on the first $100,000 and .25% on the difference, plus Gst.  
• If there is a penalty please enter in this amount.
• Legal fees are approximate and please confirm with the lawyer or notary you use for conveyancing.
• Discharge fee is approximate and depends on the lender that has your mortgage.
• Inspection fee is approximate and depends on the inspector you choose.
• Appraisal fee is approximate and if the down payment is LESS than 20% there is generally no cost.

Down Payment Rules

• The minimum down payment required if the purchase price is $500,000 OR LESS is 5% of the purchase price.
• The minimum down payment required if the purchase price is OVER $500,000 and LESS than $1,000,000 is 5%  of the first $500,000 and 10% of the difference on the purchase price.
• The minimum down payment required if the purchase price is $1,000,000 OR GREATER is 20%.

Property Transfer Tax 

• 1% on the first $200,000,
• 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
• 3% on the portion of the fair market value greater than $2,000,000.