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PTT Calculator

Calculate your Property Transfer Tax

Property Transfer Tax Calculator

Property Transfer Tax Calculator
Are you a Canadian Citizen or Permanent Resident?
Is the property in the Capital Regional District, Fraser Valley Regional District, Metro Vancouver Regional District, Regional District of Central Okanagan, or Regional District of Nanaimo).
Is the property a residential property?
Are you a first-time home buyer?
Are you buying a newly constructed home?

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

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