A house purchased in Ontario for $300 000 will result in an additional charge for land transfer tax in the amount of $4500.

Question

Quizplus · Accepted Answer

In Ontario, the land transfer tax is calculated based on the purchase price of the property. For a house purchased for $300,000, the land transfer tax would be approximately $4,475, which is close to $4,500 as given in the statement. Therefore, the answer is true, option A.

A House Purchased in Ontario for $300 000 Will Result