British Columbia Property Transfer Tax Calculator

You qualify as a first-time homebuyer if:

• You are either a Canadian Citizen or a Permanent Residence.
• You have either:
  • Lived in BC for at least a year immediately before the date you registered the property.
  • Filed at least two income tax returns as a BC resident in the past six taxation years immediately before the registration date.
• You have never owned a registered interest in a property that was your principal residence anywhere in the world at any time.
• You have never owned a property anywhere in the world. 
• You have never received a first-time Land Transfer Tax refund or exemption.

To qualify for a full refund, the property must:

• Be located in BC.
• Only be used as your principal residence.
• Have a fair market value of $500,000 maximum. 
• Have a land size less than or equal to 0.5 hectares (1.24 acres).

You may only qualify for a partial refund if:

• The property’s fair market value is between $500,000.01 and $525,000.
• The land size is more significant than 0.5 hectares (1.24 acres). 
• There is another building on the property other than your principal residence.