What’s BC’s Property Transfer Tax, and am I exempt as a first-time buyer?

British Columbia charges Property Transfer Tax (PTT) on most real estate purchases, calculated on a tiered scale based on the property’s fair market value. It’s separate from — and in addition to — GST and any legal or closing costs.

BC’s First-Time Home Buyers’ Program can fully or partially exempt eligible buyers from PTT, provided you’re a Canadian citizen or permanent resident, have lived in BC for at least a year (or filed two BC income tax returns in the last six years), have never owned an interest in a principal residence anywhere, and the property falls under the program’s price threshold and will be your principal residence.

Because both the tax brackets and the exemption threshold are periodically updated by the province, we always confirm the current figures against the latest BC government guidance before finalizing numbers for your specific purchase.