28 short, sourced answers to the Toronto and Ontario real estate questions people ask most: what you pay in tax, what the mortgage rules are, what the market is doing, and what the rules are for renting and building. Every figure is checked against the government body or board that publishes it.
Land transfer tax and purchase taxes
How is Toronto municipal land transfer tax calculated in 2026?
Toronto MLTT is charged in brackets: 0.5% up to $55,000, 1% to $250,000, 1.5% to $400,000, 2% to $2 million, 2.5% to $3 million, then 4.40% to $4 million, 5.45% to $5 million, 6.50% to $10 million, 7.55% to $20 million and 8.60% above $20 million. The higher brackets above $3 million took effect on 1 April 2026.
How much land transfer tax do you pay on a Toronto home?
A Toronto buyer pays both Ontario land transfer tax and Toronto MLTT. Combined, that is $122,950 on a $3 million purchase, $191,950 at $4 million, $271,450 at $5 million and $721,450 at $10 million, before any first-time buyer rebate.
What land transfer tax rebates do first-time buyers get in Toronto?
Eligible first-time buyers can receive up to $4,000 back from Ontario land transfer tax and up to $4,475 from Toronto MLTT, a combined maximum of $8,475.
What taxes apply to foreign buyers in Toronto?
Ontario charges a 25% Non-Resident Speculation Tax province-wide, and Toronto adds a 10% Municipal Non-Resident Speculation Tax, effective 1 January 2025. Separately, the federal ban on non-Canadians buying residential property runs to 1 January 2027, subject to its exemptions.
What is Toronto's Vacant Home Tax?
Toronto charges 3% of a property's current value assessment on homes that are vacant for more than six months of the year. Every owner must file an annual occupancy declaration, and penalties can reach $10,000.
Does the federal Underused Housing Tax still apply?
No. The Underused Housing Tax was eliminated for 2025 and later years.
Did the capital gains inclusion rate go up?
No. The proposed increase to the capital gains inclusion rate was cancelled on 21 March 2025. The principal residence exemption still applies, subject to the federal residential property flipping rule for homes held less than 365 days.
What is Toronto's 2026 residential property tax rate?
The total 2026 residential property tax rate in Toronto is 0.767311% of assessed value.
Mortgage rules and rates
What is the mortgage stress test rate in Canada?
Borrowers must qualify at the greater of their contract rate plus 2% or 5.25%.
What is the minimum down payment in Canada?
5% of the first $500,000, 10% of the portion from $500,000 to $1.5 million, and 20% on homes priced at $1.5 million or more, which cannot be insured.
What is the maximum price for an insured mortgage?
Mortgage default insurance is available on purchases up to $1.5 million. The cap was raised from $1 million on 14 December 2024.
Who can get a 30-year amortization on an insured mortgage?
Since 15 December 2024, first-time buyers and buyers of newly built homes can amortize an insured mortgage over 30 years. It adds 0.20% to the insurance premium.
How much is CMHC mortgage insurance?
Premiums are charged on the loan amount by loan-to-value: 0.60% at 65%, 1.70% at 75%, 2.40% at 80%, 2.80% at 85%, 3.10% at 90% and 4.00% at 95%. In Ontario, 8% provincial sales tax is charged on the premium and must be paid in cash at closing.
What debt ratios do lenders use?
The standard limits are 39% gross debt service and 44% total debt service. For condos, half of the monthly condo fee is counted.
What is the Bank of Canada policy rate?
The Bank of Canada held its policy rate at 2.25% on 2 September 2026, the seventh consecutive hold. Bank prime is 4.45%.
What is the First-Time Home Buyers' GST Rebate?
For a new home bought under an agreement signed after 26 May 2025, an eligible first-time buyer can get full GST relief up to $1 million, a saving of up to $50,000, phasing out to zero at $1.5 million. The buyer must be at least 18, a citizen or permanent resident, must not have owned a principal residence in that calendar year or the four before it, and must be the first occupant.
GTA market numbers
How many homes sold in the GTA in August 2026?
TRREB reported 5,057 sales in August 2026 at an average price of $993,410, down 2.7% from a year earlier. The median was $850,000 and 12,075 new listings came on.
How fast are GTA homes selling?
In August 2026 the average GTA home sold in 35 days at 97% of its list price, and the MLS Home Price Index composite was down 4.5% year over year.
Why can average price and the price index move differently?
Average price depends on what happened to sell that month. The Home Price Index tracks a benchmark home, so it strips out changes in the mix of homes sold. In August 2026 the average fell 2.7% while the index fell 4.5%.
Renting and landlords
What is the Ontario rent increase guideline?
The guideline is 2.1% for increases taking effect in 2026 and 1.9% for 2027. A landlord needs to give 90 days' written notice. Units first occupied for residential purposes after 15 November 2018 are exempt from the guideline.
Does a Toronto landlord need a licence to renovate a tenanted unit?
Yes. Under Toronto's Rental Renovation Licence Bylaw, in force since 31 July 2025, a landlord must apply for a licence within 7 days of serving an N13, pay $700 per unit, and provide temporary housing or rent-gap compensation plus moving costs. Fines reach $10,000 a day for ongoing breaches and up to $100,000.
Building and property rules
Can you build a multiplex in Toronto?
Yes. Up to four units are permitted on residential lots across Toronto since May 2023. Sixplexes are permitted only in the Toronto and East York district and Ward 23.
Does Toronto help pay for basement flooding protection?
Yes. For work completed on or after 12 November 2025, the subsidy covers 80% of invoiced cost up to set limits: $1,600 per backwater valve (maximum two), $2,250 for a sump pump plus $300 for battery backup, $500 for a plumbing assessment and $400 for weeping tile capping, to a maximum of $6,650 per property.
How much does a condo status certificate cost in Ontario?
A condominium corporation can charge no more than $100 and must deliver the certificate within 10 days of the request and payment.
How are deposits on new freehold homes protected in Ontario?
Tarion's warranty protects deposits up to $100,000 on a new freehold home, and delayed-closing compensation is $150 a day up to $7,500. The overall warranty caps are $400,000 for freehold homes and $300,000 for condo units.
What is Ontario estate administration tax?
There is no tax on the first $50,000 of an estate. Above that, the tax is $15 for every $1,000 of estate value, rounded up to the nearest thousand. An Estate Information Return is due within 180 days of the certificate being issued, even when no tax is owed.
Transit
Is the Eglinton Crosstown open?
Yes. Line 5 Eglinton opened on 8 February 2026, running 19 km with 25 stops from Mount Dennis to Kennedy. The western extension toward Renforth is still under construction, targeted for around 2031, and does not yet serve Etobicoke.
When will the Ontario Line open?
There is no confirmed opening date; it is expected in the early 2030s. Tunnelling began on 20 April 2026.
Run your own numbers
These figures feed the calculators on this site.
Rules and rates change. Confirm anything you rely on with your lawyer, accountant or mortgage professional, or book a call with me at 833-330-1925. Spot something out of date? Email connect@jatindua.com.