PTT Exemption - Do you Qualify?

As a first time Home Buyer you may be exempt from paying the Property Transfer Tax (PTT) if you meet certain criteria

To receive the full exemption

1) Must be a Canadian Citizen or permanent resident

2) Lived in BC for 12 Consecutive months immediately before registration

3) Never owned an interest in a principal residence, anywhere in the world

4) Have never received a first time home buyers exemption or refund

5) The property must be in BC

6) Must be used as your principal residence

7) Fair market value of 500K or less

8) Be .5 hectares or smaller

Please refer to the British Columbia Government website for Full Details

First Time Home Buyers' Program

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