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Transaction Levy Filings – Real Estate

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Our real estate transaction levy chart lists scenarios in which the levy does and does not apply.

When do I have to pay a real estate transaction levy surcharge?

Understanding the general principles behind the risk involved in a transaction will help you determine when a real estate transaction levy should be applied.

Generally, a levy is required when:

  • The lawyer is acting for the vendor only
  • The lawyer acts for the purchaser who has not acquired title insurance

Generally, a levy is not required when:

  • All purchasers and lenders have acquired title insurance
  • There is no title insurance but the client is transferring land to themselves, themselves and a spouse, or to any person in consideration of natural love and affection
  • Documents are registered on title but there is no property transfer or charge registered
  • A body corporate transfers land to another body corporate with which it is affiliated
  • A personal representative or their successor acting as an executor, administrator or trustee, transfers land to a beneficiary or to a successor personal representative

Do I have to pay the levy if I am acting for the vendor?

Yes, you must pay the transaction levy because the title insurance policy does not insure the vendor and therefore the vendor’s lawyer continues to be exposed to risk.

How many levies are payable when more than one transfer or charge is given or received by the same party on the same real estate transaction (for example, a vendor transfers multiple condominium units to a single purchaser)?

Just one levy is payable in this instance.

How is the real estate transaction levy calculated?

The real estate transaction levy surcharge is $65 per transaction inclusive of PST (it is not subject to HST or GST). For these transactions, the real estate transaction levy surcharge is calculated as follows:

Surcharge $60.19
PST $4.81
Total $65.00

I didn’t have any transactions this quarter Do I still need to file a form?

Yes, you are still required to file declaring you had zero transactions.

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