A residential purchase in Markham is generally subject to Ontario land transfer tax. A purchase inside Toronto is generally subject to Ontario land transfer tax plus Toronto Municipal Land Transfer Tax, so the cash required at closing can be materially higher.
The short answer
A residential purchase in Markham is generally subject to Ontario land transfer tax. A purchase inside Toronto is generally subject to Ontario land transfer tax plus Toronto Municipal Land Transfer Tax, so the cash required at closing can be materially higher.
First-time home buyer rebates
Eligible first-time buyers may receive provincial and, for Toronto purchases, municipal rebates. Eligibility depends on more than selecting a checkbox, so an online result should be treated as an estimate and confirmed with the closing lawyer.
What the calculator does not decide
Non-resident taxes, beneficial ownership, unusual property types, family transfers and other exemptions can require legal review. The calculator is designed for a typical residential purchase and clearly states its assumptions.