When you a buy a Single Family Home, Condo or Vacant Land in Quebec you are subject to land transfer (also known as "Welcome Tax") tax which is due upon closing, or depending on the province is due 3-6 months after purchase.
Quebec/Montreal's Land Transfer Tax(LTT) is a percentage of your home's purchase price, and has a marginal tax rate ranging from 0.5% to 1.5%. Each portion of your home's value is taxed at its own unique marginal tax rate. In Montreal, there is an additional tax bracket from $250,000 to $500,000 with a tax rate of 1.5%. Quebec's LTT rates are as follows:
|Purchase price of home||Land title transfer fee|
|On the mortgage||$50 base +$1 for every $5000 or part thereof of the mortgage amount.|
|On $250,000 to $500,000||1.5%|
|On $500,001 to $999,999||2.0%|