PTT Calculator
Calculate your Property Transfer Tax
Property Transfer Tax Calculator
What is Property Transfer Tax?
PTT is a provincial tax applied to real estate purchased in B.C. The rate is 1% on the first $200,000 of the property’s fair market value, 2% on the portion greater than $200,000 up to and including $2,000,000, 3% on any portion greater than $2,000,000, and if the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000.
Common Exemptions
First -Time Buyer Qualification:
- Canadian citizen or permanent resident
- Lived in BC for at least 1 year before the date you become registered owner of property
- Filed at least 2 income tax returns as BC resident in last 6 taxation years
- Have never owned property that was your principal residence anywhere in the world
- Have never received first time buyer exemption or refund
- Property must be used as principal residence
- Property must be valued $835,000 or less for full exemption, or above $835,000 but less than $860,000 for a partial exemption
Qualifying for Newly Built Home Exemption:
You must be:
- An individual
- Canadian citizen or permanent resident
Property must be:
- located in BC
- only used as your principal residence
- have a fair market value of $1,100,000 or less
- be 1.24 acres or smaller