BUSINESS | LITIGATION | REAL ESTATE | WILLS & ESTATES

There is No Land Transfer Tax in Saskatchewan

Every once in a while I get asked if there is a land transfer tax in Saskatchewan. The answer is "no". This is the case regardless of whether the property being purchased is residential or commercial in nature.

Registration Costs in Saskatchewan

The Saskatchewan government, through ISC (land titles) charges a fee to register a title in the buyer's name and they also charge a flat fee to register a mortgage or other document. The cost to register the transfer is $3.00 per thousand in the value of the property. Therefore a $200,000.00 property costs $600.00 .... ($200 x $3.00). The mortgage registration cost is a flat $150.00 for the first 4 titles, regardless of the amount of the mortgage. Other registrations are usually $50.00 per title affected.

Registration Costs in other Provinces

Some provinces, such as British Columbia, Manitoba and Ontario DO have a "land transfer tax". It's a tax on the purchase price that the purchaser must pay. It can be quite significant. A buyer in Ontario can expect to pay $7,000.00 or even more, but it depends on the value of the property. It is a significant amount to budget for so if you are buying a property in those provinces, you should ask what it will be ahead of time. Alberta does not have a land transfer tax nor does Saskatchewan. Alberta's land titles registration costs are lower than Saskatchewan, but they are the only province I am aware of that charges less. British Columbia and Manitoba do charge a tax, so registration costs are several times more expensive than Saskatchewan.

Reduced Fee Transactions

If a person holds joint title with a person who dies, the land titles registration cost for the survivor is nominal only. If you own title and are transferring it to yourself and another person, or the other way around, the portion that is going back to the same owner is typically charged at 1/3 the usual rate. The portion transferred away from or to the other person is charged at the regular rate.



Notice: The information on this website is general in nature only. It relates to Saskatchewan, Canada and may not be applicable in your jurisdiction. It does not constitute legal advice to you and no solicitor client relationship will be established. You should seek specific legal advice regarding your circumstances from a lawyer entitled to practise law in your jurisdiction.

www.rickcarlson.com | Sat, 19 Aug 2017 15:28:16 CDT1