Property Transfer Tax
Alien Licence:
Rate of Tax payable on transfer of Property:
Citizens
|
Percentage of market value
|
Vendor
|
5 %
|
Non citizens
|
Percentage of Consideration or market value
|
Vendor
|
15 %
|
Purchaser
|
10 %
|
Where a transfer does not occur through a deed of gift tax the tax shall only be payable on the value exceeding $20,000.00.
Rate of Tax payable on transfer of Property other than land:
Non citizens
|
Percentage of market value
|
Vendor
|
10 %
|
Purchaser
|
10 %
|
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Any transfer by way of deed of gift which does not exceed $150,000.
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Any transfer by the Crown or by a statutory board which is in receipt of public funds.
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Any transfer by a charitable organization or a non-profit-company registered under the Companies Act, 1994.
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Mortgage transfers, release or reconveyance regarding the purchase of the property, repair or extension to building(s) on the property.
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Transfer of property affected by operation of law to a liquidator or trustee in bankruptcy.
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Transfer from one trustee to another on a charge of trust.
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Any transfer of property in trust solely for the transferor;