The City of Montréal has adopted a bylaw that will
increase the transfer duties payable in Montréal for
transactions exceeding $2 million, starting on January 1, 2020.
The City is adding a new bracket for the basis of imposition for
transfers of immovables exceeding $2 million and has set the
marginal rate to calculate the transfer duties for this bracket at
3.0% (instead of the current 2.5%).
In the province of Québec, the transfer of an immovable,
in particular by sale, under a lease with a term of more than 40
years or by emphyteusis will give rise to the assessment of
transfer duties.
Each municipality in Québec must collect transfer duties
on transfers of immovables located in its territory. These duties,
payable by the transferee to the municipality, is due from the date
the transfer is registered.
