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.
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A guide to British Columbia land transfer tax
Jamie David, Sr. Director of Marketing and Mortgages
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|
|On $200,001 to $2,000,000||2.0%|
|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).
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.