British Columbia
Property Transfer Tax

About the BC Property Transfer Tax

The Property Transfer Tax (PTT) is paid when purchasing or gaining an interest in property in British Columbia. The tax is calculated on the fair market value of the property at the time of transfer.

Tax rates

The general PTT is 1% on the first $200,000, 2% on the portion from $200,001 to $2,000,000, and 3% on the portion above $2,000,000. An additional 2% applies to residential properties above $3,000,000.

First-time home buyer exemption

First-time buyers who are Canadian citizens or permanent residents may qualify for a full exemption on properties valued up to $500,000. A flat $8,000 exemption applies for properties between $500,000 and $835,000. The exemption is proportionally reduced between $835,000 and $860,000, and not available above $860,000.

New housing exemption

A full exemption is available for newly built homes valued up to $1,100,000. A partial exemption applies for newly built homes valued between $1,100,000 and $1,150,000.

Foreign buyer tax

An additional 20% tax applies to foreign nationals, foreign corporations, and taxable trustees purchasing residential property in designated areas of British Columbia.