Buying a Home: Land Transfer Tax
June 15th, 2023 by SNJ
In Manitoba, a buyer is required to pay Land Transfer Tax. There are only very limited exceptions to the payment of Land Transfer Tax. For example, an “interspousal” transfer of land between spouses or common-law partners in typically exempt from Land Transfer Tax, however, a minimum registration charge will be applicable. The sale of farmland to another farmer (as defined by the applicable legislation), who will use the land for farming is also usually exempt from Land Transfer Tax. Land Transfer Tax is calculated based on the fair market value of the property (usually the purchase price) and the percentage used by the provincial government to calculate Land Transfer Tax differs based on the value of the home. The Land Transfer Tax calculations charged by the provincial government are subject to change. For the current calculation of Land Transfer Tax that may be applicable on your purchase, please contact our office for click the link below to try out the Land Transfer Tax Calculator.
Land Transfer Tax Calculator
Notice: The articles on our website are provided for general information purposes only and should not be relied upon as legal advice or opinion. They reflect the current state of the law as at the date of posting on the website, and are subject to change without notice. If you require legal advice or opinion, we would be pleased to provide you with our assistance on any of the issues raised in these articles.
