PTT changes announces in BC Budget

Effective Feb. 17, 2016:

  • Newly Build Home Exemption:
    • housing up to $750,000 will be exempt from Property Transfer Tax.
    • Details: http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/understand/exemptions/newly-built-home-exemption
  • New Tax on High Value Transfers:
    • The Property Transfer Tax rate will increase from 2% to 3% on the portion of fair market value over $2 million.

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