BC Property Transfer Tax New Calculation Rule
- March 10, 2016
- Blog
- Posted by Linda Qin
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Starting from February 2016, BC implements new Property Transfer Tax (PTT) rule. Simply put, there is no PTT for brand new home purchase with $750,000 price or up. With two additional conditions: home buyer has to live in that property for at least one year and he/she is either Canadian citizen or permanent resident. Meanwhile, for those high end properties with 2 million price or up, PTT tax rate is increased by 1%.
How to calculate PTT for homes that between 750k and 2m? Please contact Linda for more information. Call 604.782.6160.
