First Time Home Buyers’ Exemption Amounts
If you qualify for the first time home buyers’ exemption, the amount of property transfer tax you pay depends on:
- the fair market value of the property
- the percentage of the property transfer eligible for the exemption
- when the the property was registered
The exemption amount is deducted from the amount of tax you would normally pay. Find out how much tax is payable if the property transfer is:
Note: If your property was registered on or before February 21, 2017, the amount of tax payable may be different. Find out the amount of your exemption.
100% Eligible – Exemption Amounts
| Fair Market Value | Exemption Amount | Tax Payable |
|---|---|---|
| Less than $500,000.00 | Full amount of tax normally due | $0 |
| $500,000.00 | $8,000.00 | $0.00 |
| $501,000.00 | $7,699.20 | $320.80 |
| $502,000.00 | $7,396.80 | $643.20 |
| $503,000.00 | $7,092.80 | $967.20 |
| $504,000.00 | $6,787.20 | $1,292.80 |
| $505,000.00 | $6,480.00 | $1,620.00 |
| $506,000.00 | $6,171.20 | $1,948.80 |
| $507,000.00 | $5,860.80 | $2,279.20 |
| $508,000.00 | $5,548.80 | $2,611.20 |
| $509,000.00 | $5,235.20 | $2,944.80 |
| $510,000.00 | $4,920.00 | $3,280.00 |
| $511,000.00 | $4,603.20 | $3,616.80 |
| $512,000.00 | $4,284.80 | $3,955.20 |
| $513,000.00 | $3,964.80 | $4,295.20 |
| $514,000.00 | $3,643.20 | $4,636.80 |
| $515,000.00 | $3,320.00 | $4,980.00 |
| $516,000.00 | $2,995.20 | $5,324.80 |
| $517,000.00 | $2,668.80 | $5,671.20 |
| $518,000.00 | $2,340.80 | $6,019.20 |
| $519,000.00 | $2,011.20 | $6,368.80 |
| $520,000.00 | $1,680.00 | $6,720.00 |
| $521,000.00 | $1,347.20 | $7,072.80 |
| $522,000.00 | $1,012.80 | $7,427.20 |
| $523,000.00 | $676.80 | $7,783.20 |
| $524,000.00 | $339.20 | $8,140.80 |
| $525,000.00 | $0 | $8,500.00 |
50% Eligible
If only part of the property transfer is eligible (e.g. not all of the purchasers qualify), the exemption amount will be reduced. The amount of the exemption is reduced by the percentage of the property transfer that isn’t eligible.
Below is the amount of tax payable if 50% of the property transfer is eligible for the First Time Home Buyer’s Exemption.
50% Eligible – Exemption Amounts
| Fair Market Value | Exemption Amount | Tax Payable |
|---|---|---|
| $500,000.00 | $4,000.00 | $4,000.00 |
| $501,000.00 | $3,849.60 | $4,170.40 |
| $502,000.00 | $3,698.40 | $4,341.60 |
| $503,000.00 | $3,546.40 | $4,513.60 |
| $504,000.00 | $3,393.60 | $4,686.40 |
| $505,000.00 | $3,240.00 | $4,860.00 |
| $506,000.00 | $3,085.60 | $5,034.40 |
| $507,000.00 | $2,930.40 | $5,209.60 |
| $508,000.00 | $2,774.40 | $5,385.60 |
| $509,000.00 | $2,617.60 | $5,562.40 |
| $510,000.00 | $2,460.00 | $5,740.00 |
| $511,000.00 | $2,301.60 | $5,918.40 |
| $512,000.00 | $2,142.40 | $6,097.60 |
| $513,000.00 | $1,982.40 | $6,277.60 |
| $514,000.00 | $1,821.60 | $6,458.40 |
| $515,000.00 | $1,660.00 | $6,640.00 |
| $516,000.00 | $1,497.60 | $6,822.40 |
| $517,000.00 | $1,334.40 | $7,005.60 |
| $518,000.00 | $1,170.40 | $7,189.60 |
| $519,000.00 | $1,005.60 | $7,374.40 |
| $520,000.00 | $840.00 | $7,560.00 |
| $521,000.00 | $673.60 | $7,746.40 |
| $522,000.00 | $506.40 | $7,933.60 |
| $523,000.00 | $338.40 | $8,121.60 |
| $524,000.00 | $169.60 | $8,310.40 |
| $525,000.00 | $0 | $8,500.00 |
