Costs & fees
Land Transfer Tax
A provincial (and sometimes municipal) tax paid at closing on the purchase price. Tiered; first-time-buyer rebates apply in many provinces.
Land transfer tax (LTT) is a one-time provincial tax payable on closing, calculated as a tiered percentage of the purchase price. Ontario, British Columbia, Manitoba, Quebec (called "welcome tax"), Nova Scotia, New Brunswick, PEI, and Newfoundland all charge it; Alberta and Saskatchewan don't (they charge a smaller registration fee instead). Toronto adds a municipal LTT on top — effectively doubling the bill for Toronto homebuyers.
First-time homebuyer rebates apply in many provinces. Ontario rebates up to $4,000 of the provincial LTT (effectively no provincial LTT on the first ~$368,000 of purchase price). Toronto adds a municipal rebate of up to $4,475. BC has the First Time Home Buyers' Program. PEI has its own rebate.
LTT is paid by the buyer's lawyer or notary at closing alongside other closing costs and is NOT financed into the mortgage — you need it as cash on top of your down payment. Budget approximately 1–4% of purchase price depending on province.