Is there a land transfer tax in Newfoundland and Labrador?

No. Buyers pay deed and mortgage registration fees instead.

Banking, loans and insurance in Newfoundland and Labrador

Newfoundland and Labrador credit union deposits are protected by the Credit Union Deposit Guarantee Corporation, auto insurance is private, and there is no land transfer tax, only registration fees for the deed and mortgage.

Deposit protection

The Credit Union Deposit Guarantee Corporation insures eligible deposits at Newfoundland and Labrador credit unions up to CAD 250,000 per type of deposit. Banks are covered by CDIC up to CAD 100,000 per eligible category.

Auto insurance

Auto insurance is compulsory and sold by private insurers. The Board of Commissioners of Public Utilities reviews rates.

Sales and property tax

NL uses a 15% HST. There is no land transfer tax; buyers pay registration fees to the Registry of Deeds based on the value. Property tax is charged by municipalities.

Local rules by city

St. John's

Offers confirmed in Newfoundland and Labrador

These products name Newfoundland and Labrador in the availability terms the provider publishes. Most listings do not state provincial availability yet, so check other categories too.

We are still checking newfoundland and labrador-specific offers against providers' own websites. Browse the related categories in the menu in the meantime.

Offers the provider lists as nationwide

BDC

BDC Business Purchase or Transfer Loan

Financing to buy, merge with or take over a Canadian business, including some transaction costs.

Repayment: Flexible, with interest-only payments at the start
Eligibility: Business being bought must be Canadian and generating revenue, with an agreed price and clear structure
Uses: Buying a business, competitor or supplier; management or employee buyouts; family transfers; refinancing seller financing
Additional costs: Can include legal fees, moving costs, goodwill and client lists

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BDC

BDC Purchase Order Financing

A loan that pays suppliers directly so a business can fill large customer orders.

Repayment period: Up to 18 months
Payment: Suppliers are paid directly
Eligibility: Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Provinces: Nationwide

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BDC

BDC Technology Equipment Loan

A loan for hardware, software, cybersecurity, digital infrastructure and expert IT advice.

Eligibility: Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Uses: Servers, computers, software, cloud, AI tools, websites, e-commerce, cybersecurity
Professional services: Can cover IT planning, strategy, security and online sales advice
Provinces: Nationwide

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BDC

BDC Working Capital Loan

A loan for growth projects such as inventory, supplier payments, new markets and hiring, without using everyday cash.

Eligibility: Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Uses: Inventory, suppliers, new markets, product development, IP protection, marketing, hiring and training
Sustainability projects: Energy efficiency and green retrofit projects eligible
Provinces: Nationwide

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Federation of African Canadian Economics

FACE Black Entrepreneurship Loan Fund

Loans up to CAD 250,000 for Black business owners across Canada.

Maximum amount: CAD 250,000
Eligibility: Black business owners
Documents: Business and owner tax returns, personal statement of affairs, photo ID, registration certificate
Provinces: Nationwide

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Futurpreneur

Futurpreneur Startup Program Loan

Equity-free startup financing plus mentorship for entrepreneurs aged 18 to 39 starting or buying a business.

Maximum amount: Up to CAD 75,000, including BDC financing, subject to conditions
Age: 18 to 39
Uses: Starting or buying a business
Mentorship: Up to 2 years of one-to-one mentorship

Full details for Futurpreneur Startup Program Loan (opens in new tab)

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Women's Enterprise Organizations of Canada

WEOC National Loan Program

Loans up to CAD 50,000 with business support for women entrepreneurs across Canada.

Maximum amount: CAD 50,000
Term: Up to 5 years
Rate: Fixed, prime plus 4% or less depending on risk
Prepayment: No penalties

Full details for WEOC National Loan Program (opens in new tab)

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Institutions serving Newfoundland and Labrador

These institutions operate in Newfoundland and Labrador. Membership and residence rules vary, and not every product they offer is available everywhere.

Common questions in Newfoundland and Labrador

Is there a land transfer tax in Newfoundland and Labrador?: No. Buyers pay deed and mortgage registration fees instead.
Who reviews car insurance rates in NL?: The Board of Commissioners of Public Utilities.

Official sources

Limits and rules can change. Confirm current terms with the provincial body before relying on them. This is general information, not financial advice.