First Time Home Buyers’ Program
You pay property transfer tax each time you register a property at the Land Title office. If you are purchasing your first home, you may qualify for an exemption from property transfer tax if certain requirements are met.
What are the requirements?
For the Purchaser
You qualify for the exemption if:
For the Property
The property you purchase qualifies if:
If the property does not meet all of these requirements, you may still qualify for a partial exemption.
How do I apply for the exemption?
To apply for the First Time Home Buyers' Program, select or enter exemption code FTH on the Property Transfer Tax Return. After you have applied you must meet additional requirements during the first year you own the property to keep the tax exemption.
The above provides general information on the First Time Home Buyers’ Program. For details on the program, please see First Time Home Buyers’ Program.
If you have any questions, please contact:
Telephone (Vancouver): 604-660-2421
(source: Government of British Columbia)
Stan Shawn REALTOR® For Vancouver