Home Buyers info
November 26th, 2006Property Transfer Tax
There is 1% Property Transfer Tax (2% over $200,000) in B.C. This tax is payable on the purchase of all real property in B.C. The calculation is based on 1% of the purchase price up to $200,000 and 2% of any amount above $200,000. Most first time buyers are exempt from this if they meet certain criteria. The main criteria are:
a borrower has never owned a principal resid ...

