BC Real Estate
PROPERTY TRANSFER TAX CALCULATOR

 

PTT (sometimes called PPT) is a sales tax charged by the BC Government on all transfers of real estate in BC.

  • The PTT rate is determined as follows:
    • 1% on the portion of the price under $200,000
    • 2% on the portion of the price between $200,000 and $2,000,000
    • 3% on the portion of the price over $2,000,000
  • PTT is not calculated on the GST component of the price, for sales where GST applies.

First Time Home Buyers Exemption

  • First time home buyers pay no PTT on homes with a purchase price of $475,000 or less, but they pay full PTT on homes with a purchase price above $500,000.
  • If two people buy a home together and one is eligible for the First Time Home Buyers’ Exemption and one is not, then PTT will be charged proportionately to their ownership shares.
  • Purchasers claiming the First Time Home Buyers’ Exemption must live in the home for at least the first year after purchasing the home.

Newly Built Home Exemption

  • The Newly Built Home Exemption reduces or eliminates the amount of PTT a purchaser pays when purchasing a newly built home, including houses, apartments and townhomes.
  • The purchaser is not required to be a first time home buyer to qualify for the Newly Built Home Exemption.
  • Purchasers buying a newly built home pay no PTT on homes with a purchase price of $750,000 or less, but they pay full PTT on homes with a purchase price above $800,000.
  • Purchasers claiming the Newly Built Home Exemption must live in the home for at least at least the first year after purchasing the home.
 
PROPERTY TRANSFER TAX  
   
Newly Built Home  
Purchase Price (before GST)
Transfer Tax Payable
   
Used Home  
Purchase Price
Transfer Tax Payable
   
Used Home - First Time Home Buyer
Purchase Price
Transfer Tax Payable

Calculator provided by the law firm of Rosborough & Company

This Calculator was created by Conrad Warkentin, a Real Estate Lawyer at Rosborough & Co.

The Calculator is not to be relied upon for making actual PTT calculations or determinations.

Rosborough & Company Law Firm Contact
Mike Burke MBurke@rosborough.com Tel: Metro Vancouver 604-857-2373 Fraser Valley 604-859-7171
Conrad Warkentin CWarkentin@rosborough.com Fax: (1) 604-853-8635

Kam S. Grewal

KGrewal@rosborough.com Web: www.rosborough.com Technical: www.vooys.ca