LOCAL RULES

British Columbia property transfer tax worksheet requirements

Your British Columbia property transfer tax worksheet has 5 rules to meet. ReportDraft puts every one on your checklist and checks your draft before you sign.

  • A return on registration, even when exempt
  • Who counts as a first time home buyer
  • Move in within 92 days, stay a year
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Conveyancing Support works out the statement of adjustments, the property transfer tax and the statement of receipts and disbursements for you to check. In British Columbia the transfer and mortgage documents are prepared by a lawyer or notary, and Conveyancing Support is made mainly for them.

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Property transfer tax is due when a British Columbia transfer is registered at the land title office. Most of the money question comes down to three things: the general rate, whether the buyer qualifies for the first time home buyers' or the newly built home exemption, and whether the additional 20% tax applies. Here is how each is worked out, with the official text linked for every rule.

Last reviewed November 4, 2026 against the official sources listed below.

Property transfer tax worksheetBRITISH COLUMBIA / FREE CALCULATOR

Property transfer tax worksheet

How it is worked outAmount
1% of the first $200,000$2,000.00
2% of the value from $200,000 to $2,000,000$12,580.00
General property transfer tax$14,580.00
First time home buyers' exemption: no tax on the first $500,000.00 (s. 5 (1.01))-$8,000.00
General tax after the exemption$6,580.00
Total property transfer tax payable on registration$6,580.00

On the fair market value entered. The return is filed with the registration even when no tax is due; this worksheet is not the filed return.

Exemption conditions and dates

WhatWhenRule
Canadian citizen or permanent resident on the registration dateConfirmAct s. 4 (1) (a)
Lived in BC for the year before, or filed 2 BC tax returns in the last 6 yearsConfirmAct s. 4 (1) (b)
Never held an interest in a principal residence anywhere, never had this exemptionConfirmAct s. 4 (1) (c), (d)
Move in as the principal residence byMarch 17, 2027Act s. 8 (2) (a) (i)
Live there at least untilDecember 15, 2027Act s. 8 (2) (a) (ii)

The registration date is taken as the completion date entered.

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What British Columbia requires

The general tax

The general tax is 1% of the fair market value up to 200,000 dollars, 2% of the part from 200,000 to 2,000,000 dollars and 3% of the part above 2,000,000 dollars. Residential property worth more than 3,000,000 dollars pays a further 2% on the residential value above that.

On an 829,000 dollar home that is 2,000 dollars on the first 200,000 and 12,580 dollars on the next 629,000: 14,580 dollars before any exemption.

First time home buyers

A first time home buyer pays no general tax on the first 500,000 dollars of value, which saves up to 8,000 dollars, when the property is worth 835,000 dollars or less. From 835,000 to 860,000 dollars the saving shrinks in a straight line, and above 860,000 dollars there is none. On the 829,000 dollar home above, the tax falls from 14,580 dollars to 6,580 dollars.

The buyer must be a Canadian citizen or permanent resident, must have lived in British Columbia for the year before registration or filed BC returns in 2 of the last 6 years, and must never have held an interest in a principal residence anywhere or had this exemption before. They must move in within 92 days and stay until the first anniversary of registration.

Newly built homes

A Canadian citizen or permanent resident buying a newly built home that has never been lived in pays no general tax at all when it is worth 1,100,000 dollars or less, with a straight-line reduction up to 1,150,000 dollars. The buyer does not need to be a first time buyer, but cannot claim both exemptions, and the same 92 days and one year apply.

The additional 20% tax

When residential property in a specified area is transferred to a foreign entity or a taxable trustee, an additional tax is paid on registration. The Act sets 15% unless a rate is prescribed, and the regulation prescribes 20%. It applies to the whole fair market value when every transferee is a foreign entity or taxable trustee, and to their share otherwise.

The specified areas are the Metro Vancouver Regional District (other than Tsawwassen First Nation treaty lands), the Capital Regional District, Central Okanagan, the Fraser Valley and Nanaimo regional districts.

The return is filed even when nothing is due

The transferee files the return with the registration whether or not the transaction is exempt. An exemption is claimed on that return, so the worksheet's figures and dates go on the file with it.

Common mistakes

  • Claiming the first time home buyers' exemption above 860,000 dollars, where none is left.
  • Forgetting that a buyer who once owned a home elsewhere, even outside Canada, is not a first time buyer.
  • Missing the 92-day move-in date, which can cost the whole exemption.
  • Using the old 15% rate for the additional tax: the prescribed rate is 20%.

Sources

Last reviewed November 4, 2026. Next review due February 4, 2027. This page explains published rules to help you write your report. It is not legal advice; the official text linked above governs.