For Newly Constructed Homes
Starting Feb 17, 2016, an exemption is available for Canadian citizens or permanent residents of Canada who purchase and use the homes as their principal residence. The buyer doesn’t have to be first time home buyer. Full exemtpion is available up to $750,000 while partial exemption is available from $750,000 to $800,000.
Starting June 10, 2016, the following information is required to disclose when filing the property transfer tax:
The new property transfer tax form started to use on June 10, 2016.
Changes to property transfer tax rate
For more information, please contact us @ 604-639-3229 or firstname.lastname@example.org
Note: All information relating to Property Transfer Tax above is available from BC Government website..
By Theresa Lo, CPA, CGA
October 11, 2017
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Theresa Lo, CPA
Suite 200, 5050 Kingsway
Burnaby, British Columbia