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British Columbia Property Transfer Tax

Property Transfer Tax (PTT) is a tax payable to the Provincial Government by the purchaser(s) or transferee of real estate at the time the application to register a transfer is presented to the Land Title Office. The tax applies to all types of real estate, whether residential, commercial, or industrial.

PTT is calculated as follows: 1% of the first $200,000 of the property's fair market value and 2% of the remaining fair market value.

Exemption for First Time Home Buyers in BC


If you are purchasing a home for the first time in BC, you may qualify for an exemption from the PPT (property transfer tax).

As a Purchaser you are exempt if:

  • You must be a Canadian Citizen, or Permanent Resident (as defined by Immigration Canada).
  • You must lived for 12 months in British Columbia consecutively prior to your date of a property registration.
  • You have not ever owned a principal residence anywhere in the world at anytime.
  • you have never received an exemption or refund as first time home owner in BC before.

The Property qualification:

  • The value of the property is not more than $425,000. A proportional exemption is available for properties purchased for between $425,000 and $450,000.
  • The land size is no larger than 1.24 acres (0.5 hectares)
  • The Purchased property will be your principal residence.

Mortgage financing you receive if:

  • It is at least 70% of the value of the property
  • The mortgage term of at least 1 year
  • The mortgage financing is registered with 7 days of your property registration date.

Requirements to Keep the exemption

  • You need to occupy the home within 9 days of the date of registration of the property in your name and continue to live in the home as your principal residence for min of 12 months after registration.
  • If you bought vacant land, a principal residence will have to be built within 1 year and you will need to reside there for the reminder of the first year.
  • The mortgage may be paid down by any amount within the first year without losing the exemption.


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