How much is Property Transfer Tax in BC?

BC Property Transfer Tax is 1% on the first $200,000 of the purchase price, 2% on the portion from $200,000 to $2,000,000, 3% on the portion from $2,000,000 to $3,000,000, and an additional 2% (5% total) on residential value above $3,000,000.

Can foreigners buy property in BC right now?

Mostly no. The federal ban on non-Canadians buying residential property is in effect until January 1, 2027 (currently under government review). Where a foreign national can buy under an exception, BC also charges a 20% Additional Property Transfer Tax in Metro Vancouver and several surrounding regions.

What is the BC Home Flipping Tax?

Effective January 1, 2025, BC taxes the profit on a home sold within 365 days of buying it at 20%. The rate slides down to 0% by 730 days (about two years). It is separate from income tax, and you must file a return within 90 days of selling if you owned the property less than 730 days.

What is the difference between the Speculation Tax and the Empty Homes Tax?

The Speculation and Vacancy Tax is a provincial annual tax (1% for most Canadians, 3% for foreign owners in 2026) on homes left vacant in designated BC areas. The Empty Homes Tax is a separate City of Vancouver municipal tax on homes vacant in the city. A Vancouver home can be subject to both.

Is there GST when buying a home in BC?

There is no GST on a used (resale) home. New and pre-sale homes are subject to 5% federal GST, though partial rebates can apply on lower-priced homes and for eligible first-time buyers of new builds.

Buyer & Seller Guide

BC real estate taxes & rules: a 2026 guide for buyers and sellers

Q: Do first-time home buyers pay Property Transfer Tax in BC?

As of 2026, qualifying first-time buyers pay no Property Transfer Tax on a home with a fair market value up to $835,000, with a partial exemption between $835,000 and $860,000. You must be a Canadian citizen or permanent resident, have never owned a principal residence anywhere, and move in within 92 days.

Every tax you may face when you buy or sell a home in British Columbia — in plain English, with current rates. Vancouver real estate is one of the most heavily taxed markets in Canada, so knowing these before you sign can save you tens of thousands of dollars.

Last updated: November 2026 · Reviewed by Hani Faraj, BC REALTOR®

How much is Property Transfer Tax (PTT) in BC?

BC Property Transfer Tax is 1% on the first $200,000 of the price, 2% from $200,000 to $2,000,000, 3% from $2,000,000 to $3,000,000, and an extra 2% (5% total) on residential value above $3,000,000.

PTT is a one-time tax the buyer pays on closing. It is calculated on the fair market value of the property, tier by tier:

Portion of purchase price	Tax rate
First $200,000	1%
$200,000 – $2,000,000	2%
$2,000,000 – $3,000,000	3%
Residential value over $3,000,000	+2% (5% total)

For example, on an $800,000 condo the PTT is $14,000 (1% of $200,000 + 2% of $600,000). Two exemptions can reduce or eliminate it — see below.

Do first-time home buyers pay Property Transfer Tax?

As of 2026, qualifying first-time buyers pay no PTT on a home valued up to $835,000, with a partial exemption between $835,000 and $860,000.

To qualify for the First-Time Home Buyers' Program you must be a Canadian citizen or permanent resident, have never owned a principal residence anywhere in the world, have lived in BC for a year (or filed BC income taxes recently), move in within 92 days, and live there for at least a year. The threshold was raised to $835,000 on April 1, 2024.

Is there an exemption for a newly built home?

Yes — the Newly Built Home Exemption removes PTT on a brand-new home valued up to $1,100,000, phasing out by $1,150,000. You do not have to be a first-time buyer.

This covers new construction, a newly subdivided lot with a new home, or a substantially renovated home. You must move in within 92 days and live there for at least a year. You can use either the first-time-buyer OR the newly-built exemption on a purchase, not both — so on a new home around $1.1M, the newly-built exemption is usually the better one.

Can foreign buyers purchase property in BC?

For now, mostly no. The federal ban on non-Canadians buying residential property runs until January 1, 2027 (under review), and where an exception applies, BC adds a 20% Additional Property Transfer Tax.

The federal Prohibition on the Purchase of Residential Property by Non-Canadians Act blocks most foreign nationals and foreign-controlled entities from buying residential property, with limited exceptions (e.g., certain work-permit holders, some student situations, spouses of citizens/PRs). On top of that, BC's 20% Additional Property Transfer Tax has applied since 2016 to foreign buyers in Metro Vancouver and several surrounding regional districts, charged on the foreign buyer's share of the property.

What is the new BC Home Flipping Tax?

Effective January 1, 2025, BC taxes the profit on a home sold within 365 days of buying it at 20%, sliding down to 0% by 730 days (about two years).

This provincial tax is separate from income tax and from the federal anti-flipping rule. Key points:

Applies to residential property (and assignments) owned under 730 days.
Full 20% if sold within 365 days; the rate decreases steadily between day 366 and day 730, reaching 0%.
You must file a BC Home Flipping Tax return within 90 days of selling if you owned the property under 730 days — even if you owe nothing.
A deduction of up to $20,000 may apply if the home was your primary residence for at least 365 days. Exemptions exist for life events (job relocation, divorce, death, etc.).

Separately, the federal anti-flipping rule (since 2023) treats the profit on a home owned under 365 days as fully taxable business income, with its own life-event exceptions. A quick sale can trigger both — talk to an accountant before flipping.

What is the Speculation and Vacancy Tax?

It is a provincial annual tax on homes left vacant in designated BC communities — 1% of assessed value for most Canadian owners and 3% for foreign owners and satellite families in 2026.

It applies in Metro Vancouver, the Fraser Valley, the Capital and Nanaimo regions, Kelowna and other designated areas. Every owner of residential property in those areas must file a declaration each year (usually by late March) — more than 99% of British Columbians are exempt because they live in the home or rent it out, but you still have to declare to claim the exemption. The foreign-owner rate is scheduled to rise to 4% in 2027.

What is the Vancouver Empty Homes Tax?

It is a separate City of Vancouver municipal tax on homes left vacant for most of the year within city limits, charged as a percentage of the property's assessed value and declared annually.

This is distinct from the provincial Speculation and Vacancy Tax, and a vacant Vancouver home can be subject to both. Because the City adjusts the rate from time to time, confirm the current year's rate and declaration deadline directly with the City of Vancouver.

Do you pay GST when buying a home in BC?

There is no GST on a used (resale) home. New and pre-sale homes are subject to 5% federal GST.

On a new build or pre-sale, budget for 5% GST on top of the price. Partial GST New Housing Rebates can apply on lower-priced new homes, and the federal government has moved to rebate GST for eligible first-time buyers of new homes — confirm current eligibility and thresholds with your builder or accountant, since these change.

Please note: This guide is general information, not tax or legal advice, and rates, thresholds and rules change. Confirm current figures with the BC Ministry of Finance, the City of Vancouver, the Canada Revenue Agency, and your own notary or accountant before acting.

Questions about the taxes on your purchase or sale?

Hani Faraj and the BC Condos And Homes team help buyers and sellers across Metro Vancouver plan around these rules every day.

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