514-638-5049 To calculate the amount of the transfer tax, you must use the higher value between the municipal assessment and the purchase price.
The calculation is as follows:
0.5% on the first $50,000 plus
1.0% on the bracket from $50,001 to $250,000
For the province of Quebec (outside Montreal):
you must add 1.5% on the portion that exceeds $250,001
For Montreal:
you must add 1.5% on the bracket from $250,001 to $500,000,
2% on the bracket from $500,001 to $1,000,000
and 2.5% on the portion that exceeds $1,000,001
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