Condo transfer taxes and fees
Payable at the transfer of ownership
When a condominium is transferred from one person to another taxes and fees are on the spot at the time of transfer imposed by the provincial or local land branch office where the conveyancing of the condominium takes place. The taxes could be paid either by the seller or the buyer of the condominium or divided between them. The land office will calculate the payable amounts and issue a receipt specifying the total amounts of transfer fees, specific business tax, local municipality tax, stamp duty and income withholding tax. These calculation are based on the registered sale value of the condominium or the government assessed registered value of the condominium.