Loan Shark Interest Rate Calculator

.ptt-calc-container {
font-family: -apple-system, BlinkMacSystemFont, “Segoe UI”, Roboto, Helvetica, Arial, sans-serif;
max-width: 650px;
margin: 20px auto;
padding: 25px;
border: 1px solid #e1e4e8;
border-radius: 12px;
background-color: #ffffff;
box-shadow: 0 4px 15px rgba(0,0,0,0.05);
}
.ptt-calc-container h2 {
color: #1a202c;
margin-top: 0;
margin-bottom: 20px;
font-size: 24px;
text-align: center;
}
.ptt-calc-field {
margin-bottom: 20px;
}
.ptt-calc-field label {
display: block;
font-weight: 600;
margin-bottom: 8px;
color: #4a5568;
}
.ptt-calc-field input, .ptt-calc-field select {
width: 100%;
padding: 12px;
border: 1px solid #cbd5e0;
border-radius: 6px;
font-size: 16px;
box-sizing: border-box;
}
.ptt-calc-btn {
width: 100%;
background-color: #3182ce;
color: white;
padding: 14px;
border: none;
border-radius: 6px;
font-size: 18px;
font-weight: bold;
cursor: pointer;
transition: background-color 0.2s;
}
.ptt-calc-btn:hover {
background-color: #2b6cb0;
}
.ptt-calc-result {
margin-top: 25px;
padding: 20px;
background-color: #f7fafc;
border-radius: 8px;
border-left: 5px solid #3182ce;
display: none;
}
.ptt-calc-result h3 {
margin: 0 0 10px 0;
color: #2d3748;
font-size: 18px;
}
.ptt-calc-value {
font-size: 28px;
font-weight: 800;
color: #2c5282;
}
.ptt-calc-breakdown {
margin-top: 15px;
font-size: 14px;
color: #718096;
line-height: 1.6;
}
.ptt-article {
max-width: 800px;
margin: 40px auto;
line-height: 1.6;
color: #333;
}
.ptt-article h2 {
color: #1a202c;
margin-top: 30px;
}
.ptt-article table {
width: 100%;
border-collapse: collapse;
margin: 20px 0;
}
.ptt-article th, .ptt-article td {
border: 1px solid #e2e8f0;
padding: 12px;
text-align: left;
}
.ptt-article th {
background-color: #f8fafc;
}

Property Transfer Tax Calculator

Residential
Commercial/Industrial

Property Transfer Tax (PTT) is a provincial tax applied to the transfer of real estate titles. Unlike annual property taxes, PTT is a one-time payment due at the time the property is registered at the Land Title Office. Whether you are buying a primary residence, an investment property, or commercial land, understanding these costs is vital for your closing budget.

How is Property Transfer Tax Calculated?

The tax is generally calculated based on the “Fair Market Value” of the property at the date of registration. Most jurisdictions use a tiered system where the percentage increases as the value of the property rises. Our calculator uses the standard progressive model:

• 1% on the first $200,000
• 2% on the portion greater than $200,000 up to and including $2,000,000
• 3% on the portion greater than $2,000,000
• Additional 2% on the portion greater than $3,000,000 (Residential properties only)

Calculation Examples

To better understand how the tiers impact your final cost, consider these realistic scenarios:

Property Value	Calculation Logic	Total Tax
$150,000	1% of $150,000	$1,500
$500,000	(1% of $200k) + (2% of $300k)	$8,000
$2,500,000	(1% of $200k) + (2% of $1.8M) + (3% of $500k)	$53,000

Common Exemptions

In many regions, certain buyers may qualify for exemptions that reduce or eliminate the Property Transfer Tax:

1. First-Time Home Buyers: Many provinces offer a full or partial exemption for those purchasing their first home, provided the purchase price falls below a specific threshold.
2. Newly Built Homes: Exemptions may apply to newly constructed homes used as a principal residence to encourage housing supply.
3. Family Transfers: Transfers of a principal residence between related individuals (e.g., parent to child) are often exempt from PTT.

Is Commercial Property Taxed Differently?

While the base tiers often remain the same, many regions apply a supplemental tax only to residential properties valued over $3 million. For commercial properties, the tax usually caps at the 3% tier, potentially saving buyers significant sums on high-value industrial or retail acquisitions compared to luxury residential estates.

function calculatePTT() {
var fmv = parseFloat(document.getElementById(‘fairMarketValue’).value);
var type = document.getElementById(‘propertyType’).value;
var resultDiv = document.getElementById(‘pttResult’);
var taxDisplay = document.getElementById(‘totalTaxDisplay’);
var breakdownDisplay = document.getElementById(‘taxBreakdown’);
if (isNaN(fmv) || fmv <= 0) {
alert("Please enter a valid property value.");
return;
}
var totalTax = 0;
var tier1 = 0;
var tier2 = 0;
var tier3 = 0;
var tier4 = 0;
// Tier 1: 1% on first 200,000
if (fmv <= 200000) {
tier1 = fmv * 0.01;
} else {
tier1 = 200000 * 0.01;
// Tier 2: 2% on portion between 200,000 and 2,000,000
if (fmv <= 2000000) {
tier2 = (fmv – 200000) * 0.02;
} else {
tier2 = (2000000 – 200000) * 0.02;
// Tier 3: 3% on portion between 2,000,000 and 3,000,000
if (fmv <= 3000000) {
tier3 = (fmv – 2000000) * 0.03;
} else {
tier3 = (3000000 – 2000000) * 0.03;
// Tier 4: Additional 2% (total 5%) on portion over 3,000,000 for residential
if (type === "residential") {
tier4 = (fmv – 3000000) * 0.05;
} else {
tier4 = (fmv – 3000000) * 0.03;
}
}
}
}
totalTax = tier1 + tier2 + tier3 + tier4;
// Formatting
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
taxDisplay.innerHTML = formatter.format(totalTax);
var breakdownHtml = "Breakdown:“;
breakdownHtml += “1% on first $200k: ” + formatter.format(tier1) + “”;
if (tier2 > 0) breakdownHtml += “2% on $200k – $2M: ” + formatter.format(tier2) + “”;
if (tier3 > 0) breakdownHtml += “3% on $2M – $3M: ” + formatter.format(tier3) + “”;
if (tier4 > 0) {
var pct = (type === “residential”) ? “5%” : “3%”;
breakdownHtml += pct + ” on amount over $3M: ” + formatter.format(tier4) + “”;
}
breakdownDisplay.innerHTML = breakdownHtml;
resultDiv.style.display = ‘block’;
}