Buying in Toronto means paying two land transfer taxes: Ontario's and the City of Toronto's municipal land transfer tax, which uses similar brackets. Both offer partial refunds to eligible first-time buyers, which matters a lot when you budget closing costs.
The City's tax is collected at closing, usually through your lawyer. Estimate both taxes before you set a down payment, since closing costs come out of cash, not the mortgage.
Toronto property tax is based on MPAC's assessed value. The City also charges a Vacant Home Tax, and owners must declare each residential property's occupancy status every year or risk being charged.
No offer in our catalog is restricted to this city alone. Rates for banking, cards, loans and mortgages are set nationally or provincially, so the offers below are the ones confirmed for the whole province.
These products name Ontario in their published availability terms. Deposit insurance and car insurance rules for Toronto follow the Ontario rules.
Sonnet Insurance
Car insurance offers protection against vehicle repair or replacement costs and responsibility for damage or injuries caused to others while driving. Drivers can customize and buy their policy online in Ontario, Quebec, New Brunswick, Nova Scotia and P.E.I.
TD Insurance
Car Insurance provides coverage for people who finance, own or lease their car. The official page presents this product within its Ontario insurance offerings.
belairdirect
Car insurance helps drivers stay protected on the road. The quote page specifically lists car insurance in Alberta, Quebec and Ontario.
TD Insurance
Condo Insurance offers coverage for condo owners. It appears in the Ontario product range, and condo coverage can be combined with car insurance.
Sonnet Insurance
Home insurance protects your house, belongings and personal liability. It suits homeowners buying online in the listed provinces; policies have exclusions and limits that should be reviewed.
CAA Insurance (Ontario/South Central Ontario)
Homeowner’s Insurance covers the house, outbuildings, personal belongings and liability if someone is injured on the property. It is described for Ontario homeowners and may cover extra living expenses when the house is uninhabitable due to a covered loss.
Your Neighbourhood Credit Union
Flexible reusable personal credit with interest on the amount used. Ontario residence requirements apply.
Sonnet Insurance
Tenant insurance protects renters’ personal belongings, personal liability and additional living expenses if they cannot live in their rental unit. It suits people renting or leasing their home because the landlord’s policy does not provide their contents or liability protection.
CAA Insurance (Ontario/South Central Ontario)
Tenant Insurance protects personal belongings and liability for people renting their home in Ontario. Belongings are covered up to the policy limit for covered perils, but the building itself is the landlord’s responsibility.
Your Neighbourhood Credit Union
An electric vehicle loan from Your Neighbourhood Credit Union in Ontario, with an advertised rate from 5.05% and terms up to 96 months on select vehicles.
Tax rates and programs change each year. Confirm current amounts with the city or province before you rely on them. This is general information, not financial or tax advice.
Finvilo