BC Property Transfer Tax Exemption Updates — 2026

British Columbia’s Property Transfer Tax (PTT) is a significant cost in most real estate transactions. However, qualifying buyers may be eligible for partial or full exemptions. Here is an update on the key PTT exemptions available in 2026.

First-Time Home Buyers’ Exemption

First-time homebuyers may qualify for a full or partial exemption from PTT. To qualify, you must:

• Be a Canadian citizen or permanent resident
• Have never owned a principal residence anywhere in the world
• Have lived in BC for at least one year before the registration date, or filed at least two BC income tax returns in the past six years
• Intend to occupy the property as your principal residence within 92 days of registration and occupy it for at least one year

The full exemption applies to properties with a fair market value at or below the threshold set by the BC government. A partial exemption applies to properties above the threshold up to a higher limit.

Newly Built Home Exemption

Buyers of newly built homes — including new construction houses, condominiums, and strata lots — may qualify for a full PTT exemption. The property must be used as your principal residence.

Newly Built Home Exemption for Foreign Buyers

Note that foreign buyers are subject to the Additional Property Transfer Tax in certain areas of BC. This additional tax applies even if the buyer qualifies for other PTT exemptions.

Professional Advice Recommended

PTT exemption rules are complex, and eligibility requirements apply strictly at the time of registration. An error in claiming an exemption you do not qualify for can result in penalties. We review PTT eligibility as part of every real estate transaction we handle.

Contact MV Law Corporation to discuss your eligibility for PTT exemptions before your purchase closes.