# Land Transfer Fees: Personal to Hold Co.



## retireby45 (Jul 6, 2011)

I was wondering if anyone knows if land transfer fees are applicable when selling a condo that I own personally to my holding company. As I own 100% of the shares of my Hold Co, is the Hold Co still responsible for LTFs? (I'm in Toronto proper so until Ford eliminates the Toronto portion, this is still a big expense to consider!)

(Obviously I'm going to consult my accountant, banker, and lawyer extensively, but just thought you guys/gals might have some insight in the mean time)

Thanks!


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## martinv (Apr 30, 2009)

In BC, if the title transfers to a different name (entity) then the transfer tax is payable. We recently changed from a limited company name to our ourselves and had to pay the land transfer tax. Even though we were the beneficial owners and had lived there for 11 years. I spent a lot of time and energy on this but still had to pay the $20,000.


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## Charlie (May 20, 2011)

In BC land transfer tax follows legal ownership. So you can transfer beneficial ownership through a trust document to avoid the land transfer tax. (Assuming you're indifferent to who is on the legal title).

I'm pretty sure Ontario taxes beneficial changes. So I don't think it works there.


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## GeniusBoy27 (Jun 11, 2010)

Unfortunately, you do have to pay the land transfer tax. I needed to do that when I was switching a personal property over to a holdco.


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