Home buying costs in Newfoundland and Labrador
Land transfer tax, registration fees and closing costs in Newfoundland and Labrador, calculated from the province's own published schedule.
Land transfer tax
Newfoundland and Labrador levies no land transfer tax. A registration fee is charged at the Registry of Deeds instead.
Registration fees
$100 where the value is $500 or less, and above that $100 plus 40 cents for each additional $100 of value or part of $100.
| Purchase price | Title registration | Mortgage registration |
|---|---|---|
| $400,000 | $1,698 | $1,378 |
| $650,000 | $2,698 | $2,178 |
| $900,000 | $3,698 | $2,978 |
| $1,200,000 | $4,898 | $3,938 |
The same schedule applied to the amount secured, capped at $5,000 however large the mortgage.
Sales tax on the mortgage insurance premium
Newfoundland and Labrador charges no sales tax on the mortgage default insurance premium. Only Ontario, Quebec and Saskatchewan do.
First-time buyers
- No transfer tax to rebate. There is no land transfer tax in Newfoundland and Labrador and no first-time buyer relief in the fee schedule. The federal Home Buyers' Plan and the First Home Savings Account still apply.
Sales tax on a vehicle
A single 15% harmonized sales tax. A trade-in comes off the price before tax is charged. See the car payment calculator.
Work it out for your own purchase
Income tax differs by province too, and it changes what you actually have to spend far more than transfer tax does.
See what a salary comes to in Newfoundland and Labrador with Salary After Tax
Sources
- Schedule of Fees Prescribed by the Minister of Government Services, Registry of Deeds · Commercial Registrations Division, Government of Newfoundland and Labrador · checked