Latest News from Scott Yaworski Real Estate Services
BC and the Property Transfer Tax (PTT)
I am regularly asked about the property transfer tax, so I thought I would post here as an information source rather than continually pointing people to other resource pages. The tax, like all taxes, is a government money grab that, since 1994, has basically become an accepted part of buying real estate. It applies to all fair-market price purchases, except a one-time exemption to first-time home buyers who meet a particular set of criteria.
The rate of the PTT is 1% on the first $200,000 of...
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