Land transfer tax calculator / Prince Edward Island
PEI land transfer tax calculator
Prince Edward Island charges a flat 1% real property transfer tax on the greater of the purchase price and the assessed value. Properties under $30,000 are exempt, and qualifying first-time buyers pay nothing at all.
Purchase
Land transfer tax
$6,500
1.00% of the purchase price
What PEI real property transfer tax costs at common prices
Computed by the same engine as the calculator above, at 2026 rates.
| Price | Amount | First-time buyer |
|---|---|---|
| $300,000 | $3,000 | $0saves $3,000 |
| $500,000 | $5,000 | $0saves $5,000 |
| $750,000 | $7,500 | $0saves $7,500 |
| $1,000,000 | $10,000 | $0saves $10,000 |
| $1,500,000 | $15,000 | $0saves $15,000 |
| $2,000,000 | $20,000 | $0saves $20,000 |
How PEI's real property transfer tax works
The tax is 1% of whichever is higher, the price or the provincial assessed value, with no brackets. Transfers where that value is below $30,000 are exempt. It is collected through your lawyer when the deed is registered with the province. Transfers between spouses and certain family transfers are also exempt.
First-time buyers in Prince Edward Island
PEI waives the whole tax for first-time buyers who have never owned a home anywhere and who either lived in PEI for 183 consecutive days before the purchase or will occupy the home for at least 183 consecutive days after it. Your lawyer files the declaration at registration.
Buying a rental property in Prince Edward Island
The first-time buyer relief requires you to live in the home, so it does not apply to a pure rental purchase. For an investment property the real property transfer tax is not deductible against rental income. It is added to your adjusted cost base, recovered partly through capital cost allowance on the building and fully through a smaller capital gain when you sell, as explained in our capital gains on a rental property guide. Add it to the purchase price in our rental property calculator so your cash-on-cash return reflects the real cash you put in.
Frequently asked questions
How much is PEI land transfer tax on a $400,000 home?+
$4,000, or nothing for a qualifying first-time buyer. If the assessed value is higher than the price, the 1% applies to the assessed value.
Do I have to live in PEI to get the first-time buyer exemption?+
You must either have lived in PEI for 183 consecutive days before buying, or occupy the home as your residence for 183 consecutive days after buying. Someone moving to the Island can therefore still qualify by living in the home for six months.
Is a rental property exempt from PEI transfer tax for a first-time buyer?+
Only if you occupy it. The exemption requires either prior residency in PEI or 183 days of occupancy of the purchased home, so a property bought purely to rent out pays the 1%.
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