British Columbia land transfer tax calculator

Land transfer tax rates in British Columbia

The Land transfer tax (LTT), known provincially as Property Transfer Taxes in BC, are calculated based on the purchase price of your property as well as the location. There is an additional PTT if the property on the portion of the property zoned as residential is valued beyond $3,000,000.

Home Purchase Price	Marginal Tax Rate
Up to $200,000	1.0%
$200,000 – $2,000,000	2.0%
$2,000,000 – $3,000,000	3.0%
$3,000,000	5.0%

BC Land Transfer Tax (LTT) Rebate 

If you fit the definition of a first-time homebuyer (FTHB) and a provincial resident, you may be eligible for a provincial property transfer tax (PTT) rebate. BC has further rebates issued for newly built homes, another for First Nations residents, and many more. Please review the details below to see if you qualify for a further refund under these rebates.

First-Time Home Buyers Exemption

The first-time home buyers’ program (FTHB) reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a full or partial exemption from the tax.

BC FTHB Exemption is 100% of up to the $8000 in  PTT for properties up to $500,000.  Between $501,000 and $525,000, you will need to pay a partial amount of the PTT up to $8500. Beyond the $525,000, you will need to pay the PTT fully concerning exemptions as an FTHB.

The property must:

• Located in BC
• only be used as your principal residence
• Have a fair market value between $500,000 and $525,000
• Be 0.5 hectares (1.24 acres) or smaller
• Has another building on the property other than the principal residence

BC Newly Built Home Exemption

BC Newly Built Home Exception is 100% on the PTT for up to  $750K, or partial beyond this  amount up to $800,000. If you qualify for the exemption, you may be eligible for either a full or partial exemption from the tax.

A newly built home includes:

• A house constructed and affixed on a parcel of vacant land
• A new apartment in a newly built condominium building
• A manufactured home that is placed and affixed on a parcel of vacant land
• An already constructed house that is removed from one parcel of land and affixed to another parcel of vacant land, as long as the house hasn’t been occupied since it was placed on the new parcel of vacant land
• A house resulting from the division of an existing improvement affixed to a parcel of land that was also subdivided, as long as this house hasn’t been occupied since the subdivision of the parcel
• A house converted from an existing improvement on the land. The previous improvement couldn’t have been used as residential (e.g. a warehouse converted into apartments)

The property must:

• Be located in B.C.
• only be used as your principal residence
• It has a fair market value between $750,000 and $800,000
• Be 0.5 hectares (1.24 acres) or smaller.
• Has another building on the property other than the principal residence

BC First Nations Exemption

Property Transfer Tax (PTT) Exemptions for First Nations apply to reserve, surrendered, or special reserve lands. These exemptions from taxation, by all levels of government, are on property considered reserve land or surrender lands set apart by the federal government and vested in the Crown for the use and benefit of an Indian Band.

Transfers of land to First Nations organizations, an Indian Band, an Indian Band corporation, or a Status Indian, when registered at the land title office, can be:

• Fully exempt transfers of lands
• Refundable transfers of land on reserves
• Fully-taxable transfers of land off reserves

Family exemptions

• Transfer of a principal residence
• Transfer of a recreational residence (PDF)
• Transfer resulting from a marriage breakdown (PDF)
• Transfer of a family farm involving individuals (PDF)
• Transfer of a family farm to or from a family farm corporation (PDF)

Other exemptions

• Transfer of a newly built home
• Transfer to correct a conveyancing error
• Transfer to a registered charity (PDF)
• Registration of an agreement for sale (PDF)
• Transfer to or from joint tenants to tenants in common (PDF)
• Transfer following bankruptcy (PDF)
• Transfer for subdividing property
• Registration of multiple leases on the same property (PDF)
• Transfer for company amalgamation (PDF)
• Transfer for escheats, reverts or forfeits to or from the Crown (PDF)
• Transfer under the Veterans’ Land Act (Canada) (PDF)
• Transfer to minors from the Public Guardian and Trustee (PDF)
• Transfer to or from trust companies or the Public Trustee (PDF)

BC & Federal Taxes and Regulations

Beyond BC’s provincially mandated property transfer taxes, other taxes could apply to your situation for a home purchase.  Please review in detail to see if these additional taxes impact you. We have included links to the taxes and additional links if any programs exist for rebates.

Additional property transfer tax for foreign entities and taxable trustees

Non-Resident Speculation Tax (NRST) in BC, known as Additional Property Transfer Tax (PTT), applies to the purchase or acquisition of an interest in residential property located in certain regions of BC by individuals who are foreign nationals (individuals who are not Canadian citizens or permanent residents of Canada) or by foreign corporations or taxable trustees. More commonly known as foreign buyer’s tax. 

The federal government announced a measure to prohibit non-Canadians from purchasing residential property in Canada for 2 years in Budget 2022. The legislation known as the Prohibition on the Purchase of Residential Property by Non-Canadians Act was passed on June 23, 2022. This law will come into effect on January 1, 2023, for two years ending on December 31, 2025.

In addition to the property transfer tax, if you’re a foreign national, foreign corporation or taxable trustee, you must pay the additional property transfer tax on your proportionate share of a residential property’s fair market value if the property is within specified areas of B.C. 

Your proportionate share is the percentage of interest you register on the title with the Land Title Office. For example, suppose you’re a foreign entity (foreign national or foreign corporation) acquiring a 70% interest in a property. In that case, you pay the additional property transfer tax on 70% of the residential property’s fair market value.

Tax amount and specified B.C. areas

If the property transfer is within the following areas, the tax rate is 20% on the fair market value of your proportionate share:

• Capital Regional District
• Fraser Valley Regional District
• Metro Vancouver Regional District
• Regional District of Central Okanagan
• Regional District of Nanaimo

The additional property transfer tax doesn’t apply to properties located on Tsawwassen First Nation treaty lands.

Goods and Services Tax (GST) of 5% and 8% Provincial Sales Tax (PST) are charged on a newly built home in BC. The amount of rebate you can receive for the GST Portion is 36% of the GST tax amount up to a maximum of $6,300. You may also be eligible for the BC Transition Tax Rebate. Through the New Housing Rebate (NHR), you can get an exemption from paying this tax if you meet certain conditions if this home is your primary residence.  Conversely, if you plan to rent out the newly built home, then you may be able to claim the HST as a legitimate business expense. As well as applying to the CRA for the second type of rebate designed for real estate investors, the New Residential Rental Property Rebate (NRRPR).

Provincial Sales Tax (PST) is not charged in BC by your solicitor on the amount of your default (high ratio) mortgage insurance. An insured mortgage is qualified as such when your down payment is less than 20%. Therefore, you will need to purchase default (high ratio) insurance. Although this insurance is added to your mortgage, the taxes (PST) on purchasing this insurance are not. Your solicitor will collect and remit the PST on behalf of the default (high ratio) insurer (CMHC, Sagen, or Canada Guaranty) upon closing.

BC Property Taxes

Property tax is a levy based on the assessed value of the property payable to your municipality as per their schedule.

Property taxes are calculated using values on your Property Assessment, as determined by BC Assessments. 

BC Assessment provides uniform, fair and independent property assessments to the people of British Columbia.  Municipalities, Regional Districts, First Nations, and Improvement Districts (Taxing Authorities) then use this information to set their tax rates and determine property taxes.

Click on your municipality below for more details on tax rates, payment schedules and contact information.

Vancouver	Victoria	Kelowna	Abbotsford	White Rock	Nanaimo
Kamloops	Chilliwack	Prince George	Vernon	Courtenay	Campbell River

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