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Land Transfer Tax - $400K


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Nov 7, 2009
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In Ontario, I understand that the Land Transfer Tax is 2% on the amount that exceeds $400K. Also, in Toronto, the city land transfer tax is fully rebated if the purchase price is under $400K.

My question is does the purchase price of $400K+ include the purchase price of a parking spot and locker? Or are they considered 3 separate purchases under $400K?

For example, if the condo costs $399,900, parking spot is $30,000, and locker is $5,000, is land transfer tax calculated on the sum of $434,900 or is it calculated on each individual item purchased?

I wonder because it can be argued that 3 separate properties are being purchased. Much like buying a condo without parking, but then buying a parking spot after the purchase of the condo.

How is land transfer tax calculated over the entire purchase of condo, parking spot, and locker?