Property Transfer Tax (PTT)

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Home buyers in BC are required to pay a Property Transfer Tax (PTT) when purchasing a property. This is calculated based on:

 

• 1% on the first $200,000 of the purchase price

• 2% on the remainder up to and including $2 million

• A further 2% PTT will be applied on the portion greater than $3 million

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Two Exemptions

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​1.First Time Home Buyers (FTHB) Exemption 

This exemption will fully exempt any PTT for first-time buyers purchasing a primary residence for property value under $500,000, and the partial exemption applies for property value up to $525,000. 

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2.Newly Built Homes (E.g. Pre-Sale Units)

You will be eligible for the full exemption if the property is purchased as the primary residence and valued under $750,000; partial exceptions apply for property value up to $800,000.

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