When buying a home, many people overlook the significant cost of land transfer tax. When you acquire a property (and the land it rests on), you must pay a tax to the government after the transaction closes. The amount paid depends on the value of your property. Our calculator shows you how much you can expect to pay and why.
Although Alberta government does not require the payment of a Land Transfer Tax ,it requires Land Transfer Registration Fees and Mortgage Registration Fees although the amount is much smaller than other provincial Land Transfer Taxes. The Land Transfer Registration Fee paid to the Land Titles Office costs a base of $50 and an additional $2 for every $5000 of property value and the Mortgage Registration Fee also costs a base of $50 and an additional $1.5 but for the mortgage amount . There are no rebates in Alberta.
Visit our Canada Land Transfer Tax page to find out more information about land transfer and other taxes accross Canada.
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