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BC Land Transfer Tax Calculator

When you a buy a house or condo in BC you are subject to land transfer tax on closing. Use Ratehub.ca’s calculator to determine your land transfer tax or view BC’s current rates below.

Ratehub.ca's land transfer tax calculator

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Determining your land transfer tax

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Land transfer tax rates in British Columbia1

The British Columbia land transfer tax is a marginal tax, and each portion of your home's value is taxed at its own unique tax rate. These land transfer tax rates are as follows:

Purchase price of home Marginal tax rate
First $200,000 1.0%
On $200,001 to $2,000,000 2.0%
Over $2,000,000 3.0%
Over $3,000,000 A further 2% for residential properties (5% total)

 

British Columbia land transfer tax example calculation

Let’s assume you are purchasing a house worth $250,000:

  • $200,000 first marginal tax bracket
    × 1.0% marginal tax rate 
    = $2,000 land transfer tax

  • ( $250,000 property value - $200,000 lower marginal tax bracket )
    × 2.0%
    marginal tax rate
    = $1,000 land transfer tax

  • $2,000 + $1,000 
    = $3,000 total BC land transfer tax


British Columbia land transfer tax rebate2

British Columbia provides land transfer tax rebates for first time home buyers. Homes purchased for $500,000 or less will receive a full refund. For homes with a purchase price of between $500,000 and $525,000, a partial refund is given. A sample calculation of this can be seen below.


First time home buyer eligibility in British Columbia

You qualify as a first time home buyer if:

  • You are a Canadian citizen or a permanent resident of Canada.
  • You have lived in BC for 12 consecutive months before the property is registered, or you have filed at least two income tax returns as a BC resident in the last six years. 
  • You have never owned a home anywhere else in the world at any time.
  • You have never received a first time home buyers’ refund or exception.

Your property qualifies for a full refund if:

  • The market value of the property is not more than $475,000.
  • The land is 0.5 hectares or smaller.
  • The property will be used as your primary residence.

You will only qualify for a partial refund if:

  • Your property is between $475,001 and $499,999 in value.
  • The land is greater than 0.5 hectares.
  • A portion of the land is used for commercial purposes or there are other homes on your land (only your primary residence is eligible).

 

Application

To apply, you must fill out a First Time Home Buyers’ Property Transfer Tax Return and other appropriate Land Title forms at the Land Title Office when your property is registered.

 

References and notes

  1. Property Transfer Tax, Government of British Columbia
  2. Property Transfer Tax, Government of British Columbia
  3. First Time Home Buyers' Program, British Columbia

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