Who qualifies for the first-time buyer exemption?

You've never owned a principal residence anywhere, you've lived in BC for at least one year before closing or filed two BC income tax returns in the past six years, you're a Canadian citizen or permanent resident, and you'll move in within 92 days and live there for at least one year.

How does the partial exemption work?

For prices between $500,000 and $835,000, the exemption phases out linearly. At $500k you get full exemption; at $835k you get nothing; at $750k you get about (835−750)/(835−500) ≈ 25% of the PTT exempted.

What about the newly built home exemption?

Separate program. New builds qualify for an exemption up to $1,100,000 (full) with phase-out to $1,150,000. Different rules than the FTB exemption — you can't double-stack them.

What is the foreign buyer additional tax?

A 20% additional PTT on the fair market value paid by foreign nationals (non-Canadian citizens, non-permanent residents, foreign corporations) on properties in Metro Vancouver, Capital Region, Fraser Valley, Central Okanagan, and Nanaimo. This calculator doesn't include it — talk to a lawyer if it applies.

Is BC PTT tax-deductible?

No — it's added to your property's adjusted cost base, reducing your eventual capital gain when you sell. For investment property only; principal-residence gains are tax-free in Canada anyway.

PTT · British Columbia

BC property transfer tax, bracket by bracket.

British Columbia's PTT applies to every property transfer at 1% to 5% by bracket. First-time buyers get a full exemption up to $500k and a partial phase-out to $835k.

● Updated November 2025

Assumptions

Purchase price

First-time home buyer

Results

Total PTT due

$13,000

PTT before exemption$13,000

Foncier the whole deal

This number is one of seventy.

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How this is calculated

BC brackets (2025): 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyer exemption: full at ≤ $500k, linear phase-out from $500k to $835k, none above. Foreign buyer additional tax (20%) is separate.

Worked examples

BC PTT at common Vancouver prices.

Vancouver condo · $750k · first-time

$3,765 PTT (partial exemption)

A $750,000 Vancouver condo as a first-time buyer: $13,000 base PTT, partial exemption of $9,235 (since $750k is between $500k and $835k phase-out), net $3,765 due at closing.

Base PTT$13,000

Exemption$9,235

Net$3,765

EligiblePartial

Surrey townhouse · $950k · not first-time

$17,000 PTT

$950,000 townhouse with no exemption: 1% on first $200k + 2% on the next $750k = $17,000 PTT due at closing.

Base PTT$17,000

Exemption$0

Net$17,000

EligibleNo

BC PTT questions

About BC property transfer tax.

At closing, paid through your lawyer or notary as part of the closing transaction. The Land Title Office requires it before registering the transfer.

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