BC Land Transfer Tax Calculator

• $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