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Tp584  Form

Tp584 Form

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Instructions and help about from tp 584

if you're buying a home in Ontario we all have to pay a provincial land transfer tax here's a simple formula you can use to calculate it for any property the land transfer tax formula is two percent of the purchase price minus 3 525 so let's use this formula to calculate the land transfer tax on a six hundred thousand dollar home so if you take your purchase price of six hundred thousand dollars and you multiply that by two percent you'll get twelve thousand dollars so you take the twelve thousand dollars you minus the thirty five twenty five and you get an Ontario land transfer tax of eighty four hundred and seventy five dollars now if you live in Toronto your land transfer tax would be the same formula only at the end you would double it so home valued at six hundred thousand dollars would have a land transfer tax of Sixteen thousand nine hundred and fifty dollars if you found this information useful and you plan on buying a home in the next little bit

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