British Columbia property transfer tax worksheet template

British Columbia rules for this report

These rules are about how and when you report, not the template's fields. Check them before you deliver.

• When a taxable transaction is registered at the land title office, the transferee pays property transfer tax and files a return, whether or not the transaction is exemptProperty Transfer Tax Act s. 2 (1)
• The general tax is 1% of the fair market value up to 200,000 dollars, 2% from 200,000 to 2,000,000 dollars, and 3% above 2,000,000 dollars, plus 2% of any residential value above 3,000,000 dollarsProperty Transfer Tax Act s. 3 (1) · Property Transfer Tax Act s. 3.01 (4)
• A first time home buyer pays no general tax on the first 500,000 dollars of fair market value when the property is worth 835,000 dollars or less; between 835,000 and 860,000 dollars the exemption shrinks in a straight line to nothingProperty Transfer Tax Act s. 5 (1), (1.01), (1.1) · Property Transfer Tax Act s. 4 (1), "qualifying property" and "qualifying value"
• A first time home buyer is a Canadian citizen or permanent resident who lived in British Columbia for the year before registration (or filed BC income tax returns in 2 of the last 6 years), has never held an interest in a principal residence anywhere, and has never had this exemptionProperty Transfer Tax Act s. 4 (1), "first time home buyer"
• To keep the first time home buyers' exemption, the buyer must move in as their principal residence within 92 days after registration and live there until at least the first anniversary of registrationProperty Transfer Tax Act s. 8 (1), (2)
• A Canadian citizen or permanent resident buying a newly built home that has never been lived in pays no general tax when it is worth 1,100,000 dollars or less; between 1,100,000 and 1,150,000 dollars the exemption shrinks in a straight line to nothingProperty Transfer Tax Act s. 12.01 (1), 12.02 (1), (2)
• To keep the newly built home exemption, the buyer must move in as their principal residence within 92 days after registration and live there until at least the first anniversary, and cannot also claim the first time home buyers' exemptionProperty Transfer Tax Act s. 12.05, 12.10
• When residential property in a specified area goes to a foreign entity or taxable trustee, an additional tax of 20% of the taxable amount is paid on registration: the whole fair market value if every transferee is one, otherwise their shareProperty Transfer Tax Act s. 2.02 (2), (4), (5) · Property Transfer Tax Regulation, B.C. Reg. 74/88, s. 17.02
• The specified areas are the Metro Vancouver Regional District (other than Tsawwassen First Nation treaty lands), the Capital Regional District, the Regional District of Central Okanagan, the Fraser Valley Regional District and the Regional District of NanaimoProperty Transfer Tax Act s. 2.01, "specified area" · Property Transfer Tax Regulation, B.C. Reg. 74/88, s. 17.01

What is in it

• NotesAnything about the value, the exemption or the transferees to keep on the file.

Rules last reviewed November 4, 2026. Read the full British Columbia property transfer tax worksheet requirements.