PROPERTY TRANSFER TAX/LAND TRANSFER TAX

How to calculate land transfer tax

Land transfer taxes are calculated based on the purchase price of your property. Each province sets its own land transfer tax rates, as do some municipalities. Use the calculator below to find the land transfer tax based on your location, or keep reading to find out how land transfer tax is calculated where you live.

British Columbia first-time homebuyer land transfer tax rebate

British Columbia land transfer tax

Land Transfer Taxes in British Columbia are calculated in a similar way to Toronto, though with fewer property value brakcets. BC also levies a much higher marginal tax rate on high value residential homes.

BC Land Transfer Tax Calculator

Asking Price

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STEP 1

Enter the price of the home you're interested in and press GO.

Land Transfer Tax: $-			STEP 4 If necessary, update your profile to calculate land transfer tax. Profile Location: I am a first-time home buyer I am buying a newly built home
Provincial:	Provincial Land transfer tax (LTT), typically calculated as a percentage of the purchase price of a home, is required when purchasing a home in Canada. All provinces have a LTT, and the amount varies in each province.	plus
Municipal:	Municipal Some municipalities, like Toronto, levy an additional LTT, which is similarly calculated as a percentage of the purchase price of a home.	plus
Rebate:	Rebate If you are a first-time home buyer in British Columbia or Ontario, you will be eligible for LTT rebates, equal to the value of the LTT up to a maximum amount set by the province.	minus

Land Transfer Tax $-
Provincial:	Provincial Land transfer tax (LTT), typically calculated as a percentage of the purchase price of a home, is required when purchasing a home in Canada. All provinces have a LTT, and the amount varies in each province.	plus
Municipal:	Municipal Some municipalities, like Toronto, levy an additional LTT, which is similarly calculated as a percentage of the purchase price of a home.	plus
Rebate:	Rebate If you are a first-time home buyer in British Columbia or Ontario, you will be eligible for LTT rebates, equal to the value of the LTT up to a maximum amount set by the province.	minus
*You will be required to pay a title transfer fee.
STEP 4 If necessary, update your profile to calculate land transfer tax. Profile
Location
I am a first-time home buyer
I am buying a newly built home

Provider	Rate	Select
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Custom rate		Select

First-time homebuyers are eligible to receive a full land transfer tax refund on homes purchased for up to $500,000. On homes purchased for between $500,00 - $525,000 the first-time homebuyer will be eligible for a partial refund.

Eligibility

You can qualify for the first-time homebuyer land transfer tax rebate if:

You are Canadian citizens or permanent residents as determined by Immigration Canada
You have lived in British Columbia for 12 consecutive months prior to the date the property is registered or have filed 2 income taxes in British Columbia in the 6 years before the property is registered
You have never owned an interest in a principal residence anywhere in the world at anytime
You have never received a first-time homebuyers' exemption or refund

Your property qualifies for the first-time homebuyer land transfer tax rebate if:

The fair market value of the property is less than $500,000
The land is (0.5) hectares or smaller
The property will only be used as your primary residence

For more information, see the Government of British Columbia website.

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