Duties on transfers of immovables

Definition

Under provincial legislation, a transfer tax must be collected by the City for the transfer of any immovable located in the City.

Calculation of transfer taxes

Thresholds and rates established and effective as of January 1^st, 2020

The rates of these duties are set as follows:

• 0,5% on that part of the basis of imposition which does not exceed $51,700
• 1% on that part of the basis of imposition which is in excess of $51,700 without exceeding $258,600
• 1.5% on that part of the basis of imposition which is in excess of $258,600 without exceeding $500,000
• 2% on that part of the basis of imposition which is in excess of $500,000 without exceeding $1,000,000
• 2,5% on that part of the basis of imposition which exceeds $1,000,000

For example, for a basis of imposition of $1,150,000, the duty on the transfer would be:

1. We multiply $51,700 by 0.5% = $258.50
2. We multiply $206,900 by 1% = $2,069.00
3. We multiply $241,400 by 1.5% = $3,621.00
4. We multiply $500,000 by 2% = $10,000.00
5. Finally, we multiply $150,000 by 2.5% = $3,750.00
6. We add up the results. Therefore, for a basis of imposition of $1,150,000, the total duty on the transfer will be $19,698.50

Thresholds and rates established and effective before January 1^st, 2020

The rates of these duties are set as follows:

• 0,5% on that part of the basis of imposition which does not exceed $50,900
• 1% on that part of the basis of imposition which is in excess of $50,900 without exceeding $254,400
• 1.5% on that part of the basis of imposition which is in excess of $254,400 without exceeding $500,000
• 2% on that part of the basis of imposition which is in excess of $500,000 without exceeding $1,000,000
• 2,5% on that part of the basis of imposition which exceeds $1,000,000

For example, for a basis of imposition of $1,150,000, the duty on the transfer would be:

1. We multiply $50,900 by 0.5% = $254.50
2. We multiply $203,500 by 1% = $2,035.00
3. We multiply $245,600 by 1.5% = $3,684.00
4. We multiply $500,000 by 2% = $10,000.00
5. Finally, we multiply $150,000 by 2.5% = $3,750.00
6. We add up the results. Therefore, for a basis of imposition of $1,150,000, the total duty on the transfer will be $19,723.50

Payment of duties on the transfer

This duty is payable in one instalment within thirty (30) days of the mailing of the tax bill by the City. The basis of imposition for transfer duties will be the greatest of the following amounts:

• The amount of the counterpart provided for the transfer of the immovable;
• The amount of the counterpart stipulated for the transfer of the immovable; or
• The amount of market value at the time of the transfer of the immovable. As mentioned in the Act respecting duties on transfers of immovables, the market value is the product obtained by multiplying the value entered on the roll for the unit or part corresponding to the transferred immovable, as the case may be, by the factor of the roll established.

Useful references

An Act respecting duties on transfers of immovables (R.S.Q, Chapter D-15)

This information sheet contains information of no legal value; the official regulation of the Law prevails.

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