In British Columbia you pay Property Transfer Tax when you purchase or acquire an interest in a property. The tax must be paid when you register changes to a certificate of title with the Land Title Office.
The First Time Home Buyers’ Program was introduced in 1994 as a way to help British Columbians purchase their first home. Under the program eligible purchasers may qualify for an exemption from Property Transfer Tax. In most cases your lawyer or Notary will register the property and apply for the exemption on your behalf.
What are the requirements?
As a purchaser you qualify for the exemption if:
For more information visit BC’s Finance website.