BC property transfer tax calculator

Work out BC property transfer tax, the first time home buyer exemption and the additional property transfer tax for a foreign buyer.

Calculator

Property transfer tax before exemptions (CAD)
$14,000.00
First time home buyer exemption (CAD)
$0.00
Property transfer tax after the exemption (CAD)
$14,000.00
Additional property transfer tax (CAD)
$0.00
Total tax (CAD)
$14,000.00
Total tax as a share of the price
1.75%

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How this calculator works

Enter the purchase price, then say whether the buyer is a first time home buyer and whether the buyer is a foreign entity purchasing residential property in a region where the additional tax applies. The general tax is 1% of the first $200,000, 2% of the portion from $200,000 to $2,000,000 and 3% of the portion above $2,000,000. Residential property also pays an extra 2% on the value above $3,000,000. A first time home buyer who meets the residence, citizenship and occupancy conditions pays no general tax on a home priced at $500,000 or less, receives a flat $8,000 exemption on a price from $500,000 to $835,000, and receives a reduced exemption that falls by $320 for every $1,000 above $835,000 until it reaches zero at $860,000. A foreign buyer pays an additional 20% of the residential property value in the Capital, Fraser Valley, Metro Vancouver, Central Okanagan and Nanaimo regional districts. Out of scope: the newly built home exemption, the purpose-built rental exemption, purchases of commercial or farm land, the proportional share when only one of several buyers is a foreign entity, and the conditions for the first time buyer exemption beyond price. This is not a tax return.

Formula

General tax = 1% x the first $200,000 + 2% x the portion from $200,000 to $2,000,000 + 3% x the portion above $2,000,000 + 2% x the residential value above $3,000,000. First time exemption = the general tax at $500,000 or less, $8,000 from $500,000 to $835,000, and $8,000 x ($860,000 - price) / $25,000 from $835,000 to $860,000. Foreign buyer tax = 20% x price.

Worked example

A $900,000 home that is not exempt has general tax of $2,000 + $14,000, or $16,000, because 1% applies to the first $200,000 and 2% to the remaining $700,000. A first time buyer at $835,000 pays $14,700 before the $8,000 exemption, or $6,700. If the same $900,000 home were bought by a foreign buyer, the additional tax would be 20% of $900,000, or $180,000, bringing the total to $196,000.

Frequently asked questions

What are the BC property transfer tax rates?

1% on the first $200,000, 2% on the portion from $200,000 to $2,000,000 and 3% on the portion above $2,000,000. Residential property pays an extra 2% on the value above $3,000,000.

How much is the first time home buyer exemption?

The full general tax on a home priced at $500,000 or less, a flat $8,000 from $500,000 to $835,000, and a proportional amount that falls to zero at $860,000. The buyer must also meet the residency, citizenship, ownership and occupancy conditions.

Who pays the additional 20% tax?

Foreign nationals, foreign corporations and taxable trustees who buy residential property in the Capital, Fraser Valley, Metro Vancouver, Central Okanagan or Nanaimo regional district. The tax is 20% of the buyer's proportionate share of the property value, on top of the general tax.

Does the calculator include the newly built home exemption?

No. Builders and buyers of a newly built home may qualify for a separate exemption, and the page does not model it. It also leaves out commercial property, farm land and the proportional share for mixed groups of buyers.

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