Calculate your Property Transfer Tax

What is Property Transfer Tax?

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Common Exemptions

First -Time Buyer Qualification:

• Canadian citizen or permanent resident
• Lived in BC for at least 1 year before the date you become registered owner of property
• Filed at least 2 income tax returns as BC resident in last 6 taxation years
• Have never owned property that was your principal residence anywhere in the world
• Have never received first time buyer exemption or refund
• Property must be used as principal residence

Qualifying for Newly Built Home Exemption:

You must be:

• An individual
• Canadian citizen or permanent resident

Property must be:

• located in BC
• only used as your principal residence
• have a fair market value of $750k or less
• be 1.24 acres or smaller