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Property Transfer Tax Rebate

British Columbia Property Transfer Tax(PTT)

Purchase Price of Home Marginal Tax Rate
First $200,000 1.0%
Over $200,000 2.0%

British Columbia first-time homebuyer property transfer tax rebate6

First-time homebuyers are eligible to receive a full property  transfer tax refund on homes purchased for up to $475,000. On homes purchased for between $476,001 – $499,999, the first-time homebuyer will be eligible for a partial refund equal to [ ($500K – fair market value) / $25K ] * LTT amount.

Eligibility

You can qualify for the first-time homebuyer property transfer tax rebate if:

  • You are Canadian citizens or permanent residents as determined by Immigration Canada
  • You have lived in British Columbia for 12 consecutive months prior to the date the property is registered or have filed 2 income taxes in British Columbia in the 6 years before the property is registered
  • You have never owned an interest in a principal residence anywhere in the world at anytime
  • You have never received a first-time homebuyers’ exemption or refund

Your property qualifies for the first-time homebuyer property transfer tax rebate if:

  • The fair market value of the property is less than $475,000
  • The land is (0.5) hectares or smaller
  • The property will only be used as your primary residence

For more information, see the Government of British Columbia website.

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