In British Columbia you must pay Property Transfer Tax when you purchase or acquire an interest in a property. The Property Transfer tax is paid when you register changes to a certificate of title with the Land Title Office. First time buyers may be exempt from paying all or a portion of Property Transfer Tax. Your lawyer or Notary will be able to confirm if you are eligible and in most cases will apply for the First Time Homebuyers Program for you.
Property Transfer Tax Rates
The amount of tax due depends on the fair market value of the property that is transferred: