1. The problem is to calculate the land transfer tax, which is typically a percentage of the property's purchase price. 2. The formula for land transfer tax is usually: $$\text{Tax} = \text{Purchase Price} \times \text{Tax Rate}$$ 3. Important rules: The tax rate can vary by location and price brackets; sometimes it is a flat rate or tiered. 4. To calculate, you need the purchase price and the applicable tax rate. 5. For example, if the purchase price is $500000 and the tax rate is 2%, then: $$\text{Tax} = 500000 \times 0.02 = 10000$$ 6. This means the land transfer tax is 10000. 7. If you provide the purchase price and location, I can calculate the exact tax for you.