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

The rate of these duties is set as follows:

• 0,5% on that part of the taxation basis which does not exceed $50,000
• 1% on that part of the taxation basis which is in excess of $50,000 without exceeding $250,000
• 1,5% on that part of the taxation basis which exceeds $250,000
• For example, for a property of a $400,000 value, the transfer tax would be:
  • $50,000 x 0,005 = $250
  • $200,000 x 0,010 = $2,000
  • $150,000 x 0.015 = $2,250
  • Total: $4,500

Payment of transfer taxes

This tax is payable in one installment within thirty (30) days of the mailing of the tax bill by the City. The taxation basis 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
• 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

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.

Consult the Law:

Transfer taxes

For more information, dial 514 684-1010