BC Property Transfer Tax Calculator

Property transfer tax (PTT) is a one-time provincial tax triggered whenever a property changes hands and the transfer is registered at the Land Title Office. The buyer — not the seller — is responsible for paying it, and your notary or real estate lawyer files the PTT return and remits the tax as part of completion.

It is entirely separate from GST, your annual property taxes, and the speculation and vacancy tax. Unless you qualify for an exemption, PTT is charged on the property's fair market value — generally the purchase price in an open-market, arm's-length sale.

PTT is calculated marginally — each band of the price is taxed at its own rate, so you never pay the top rate on the entire price:

• 1% on the first $200,000
• 2% on the portion from $200,000 up to $2,000,000
• 3% on the portion above $2,000,000
• A further 2% on the residential portion above $3,000,000 (so that band is effectively taxed at 5%)

If you have never owned a principal residence anywhere in the world, you may qualify for the First-Time Home Buyers' exemption. For transfers registered on or after April 1, 2024:

• Fair market value $500,000 or less: full exemption (no PTT).
• Over $500,000 up to $835,000: a flat $8,000 exemption against the tax owing.
• Over $835,000 and under $860,000: the $8,000 is proportionally reduced — $8,000 × (($860,000 − fair market value) ÷ $25,000).
• $860,000 or more: no exemption.

Core eligibility

You must be a Canadian citizen or permanent resident; have lived in BC for 12 months before registration (or filed at least two BC income tax returns in the past six years); have never owned a principal residence anywhere; move in within 92 days; and occupy the home as your principal residence for the first year. The property must be 0.5 hectares or smaller and used only as a residence.

Buying a brand-new home — a newly constructed house, or a never-occupied unit in a new condo or townhouse complex — can qualify you for the Newly Built Home Exemption. For transfers registered on or after April 1, 2024:

• Fair market value up to $1,100,000: full exemption.
• Over $1,100,000 and under $1,150,000: partial exemption, gone by $1,150,000.

This is especially relevant in Burnaby, where much of the new supply is presale condos and towers around Metrotown, Brentwood, and Lougheed. The buyer must be a Canadian citizen or permanent resident, use the home as a principal residence, and the lot must be 0.5 hectares or smaller.

If you are a foreign national, foreign corporation, or taxable trustee, you pay an Additional Property Transfer Tax of 20% on your proportionate share of the residential fair market value — on top of the general PTT. This applies throughout the Metro Vancouver Regional District (which includes Burnaby), as well as the Capital, Fraser Valley, Central Okanagan, and Nanaimo regional districts.

On a $1,000,000 Burnaby condo bought 100% by a foreign national, the additional tax alone is $200,000. Canadian citizens and permanent residents do not pay it, and a confirmed BC Provincial Nominee can claim a one-time exemption if the home is their principal residence. The tax is prorated to the foreign buyer's ownership share.

These are two different things, and they are routinely confused:

• The provincial 20% Additional PTT is a tax foreign buyers pay when a purchase is permitted.
• The federal Prohibition on the Purchase of Residential Property by Non-Canadians Act is an outright ban on most non-Canadians buying residential property, in force and extended to January 1, 2027, with fines up to $10,000 and possible court-ordered sale.

Because Burnaby sits inside a Census Metropolitan Area, most non-Canadians are currently barred from buying here outright under the federal ban — making the provincial 20% tax relevant mainly to those who fall within a federal exception (such as certain work-permit holders). Always confirm eligibility with a real estate lawyer before writing an offer.

PTT is due at completion, when your transfer is registered at the Land Title Office. Your notary or lawyer prepares and electronically files the property transfer tax return and remits the tax from your closing funds — there is no separate bill from the government afterward. Budget for PTT as a closing cost alongside legal fees, title insurance, and any GST on new construction. It is not rolled into your mortgage and must be paid in cash at closing.