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How much Ontario Land Transfer Tax will you pay on a Muskoka cottage? Calculate your LTT and understand the first-time buyer rebate rules.
Lake Muskoka Cottage Purchases LTT CalculatorEvery purchase of Ontario real estate — including Muskoka cottages and waterfront properties — is subject to Ontario Land Transfer Tax (LTT). The tax is paid by the buyer at closing and is calculated based on the purchase price.
| Purchase Price Range | Tax Rate |
|---|---|
| First $55,000 | 00.5% |
| $55,001 – $250,000 | 1.00% |
| $250,001 – $400,000 | 1.5% |
| $400,001 – $2,000,000 | 2.00% |
| Over $2,000,000 | 2.5% |
| Purchase Price | Ontario LTT | FTB Rebate | Net LTT (if not principal residence) |
|---|---|---|---|
| $500,000 | $6,475 | N/A (cottage) | $6,475 |
| $750,000 | $11,475 | N/A (cottage) | $11,475 |
| $1,000,000 | $16,475 | N/A (cottage) | $16,475 |
| $1,500,000 | $26,475 | N/A (cottage) | $26,475 |
| $2,500,000 | $51,475 | N/A (cottage) | $51,475 |
Ontario's First-Time Home Buyer (FTB) Land Transfer Tax rebate provides up to $4,000 in relief. To qualify, the property must become your principal residence — meaning the place where you ordinarily live. For most Muskoka cottage purchases, the buyer already owns a home as their principal residence, which means:
Land Transfer Tax is collected by your real estate lawyer at closing. The lawyer remits the funds to the Ontario government on your behalf. You don't need to file a separate return — your lawyer handles the paperwork through the Electronic Registration system.
| Cost | Typical Range |
|---|---|
| Ontario Land Transfer Tax | Varies by price (calculator above) |
| Legal fees | $1,500 – $3,000 |
| Title insurance | $300 – $600 |
| Home/cottage inspection | $400 – $800 |
| Septic/well inspection | $300 – $600 |
| Mortgage application fee | $00 – $500 |
In Muskoka where bank branches are sparse, KOHO's fully online no-fee bank account is perfect. Access your money anywhere, earn cash back, and pay zero monthly fees. Use code BREMO2026 for a bonus.
Get KOHO Free — Use Code BREMO2026No. Municipal Land Transfer Tax (like Toronto's) does not apply in Muskoka. Only Ontario provincial LTT applies to Muskoka cottage purchases.
LTT is due at closing — the same day you take title to the property. Your lawyer collects and remits it.
Potentially, if it will be your principal residence. Speak with your real estate lawyer before assuming — the rules around "principal residence" for a cottage are specific.
This is general information only and not legal or tax advice. Consult a real estate lawyer and accountant for your specific situation. Rates correct as of 2025 but subject to change.