LAND TRANSFER TAX

Land transfer tax (commonly referred to as Welcome Tax in Quebec) has been revised and the following factors are used when calculating this tax. The new method consists in using a factor that changes for each municipality on the Island of Montreal. There might be changes in this formula so I would advise you to verify with your notary to make sure you are using the current factor when you buy a house.

Example:
Beaconsfield home sale price - $500,000
Evaluation - $445,000 x 1.39 = $618.550
Therefore, the tax will be based on $618.550