Property Transfer Tax Exemptions.

Irina Bartnik Notary Public • February 18, 2022

Property Transfer Tax Exemptions

The three most notable ways to avoid property transfer tax by form of an exemption are:

  • First Time Home Buyer Property Transfer Tax Exemption
  • Newly Built Home PTT Exemption
  • Family Exemptions



First Time Home Buyers Property Transfer Tax Exemption

To help enter the market, the first-time home buyer’s (FTHB) program gives an exemption to the property transfer tax in the case that you can qualify. If you are a first-time home buyer and Canadian citizen/permanent resident that is purchasing a resale property to live in as your primary residence under $500,000, then you may be eligible for a full property transfer tax exemption. There is also a partial first-time home buyer PTT exemption for properties less than $525,000.



Newly Built Homes Property Transfer Tax Exemption

There is a PTT exemption for newly built homes with a fair market value of up to $750,000, including a house constructed on vacant
land, a new apartment in a newly built condominium building, a manufactured home on vacant land, and other newly built homes.
There are also occupancy requirements, and you may be eligible for a partial exemption for newly built home with fair market value of $750,000 – $800,000.


Family Exemptions

When a related individual transfers a principal residence or an interest in a principal residence to you, you may be exempt from paying PTT. To qualify for a full exemption from PTT, the entire property must meet these requirements, regardless of the interest in the property that may be transferred.

Who is considered a related individual?

Your spouse, child, grandchild, great-grandchild, parent, grandparent or great-grandparent, the spouse of your child, grandchild or great-grandchild, the child, parent, grandparent, or great-grandparent of your spouse.


Who is NOT considered a related individual?

Your sister, brother, uncle, aunt, niece or nephew is not considered to be a related individual.  This means, for example, that you are required to pay PTT if your brother or sister transfers a principal residence to you.

 

For more info information on property transfer tax and what may qualify for an exemption, you can also refer to the government’s website: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/exemptions

🏡 Fraser Valley market shows early bloom with February sales lift 📉

By Andy Schildhorn • March 3, 2026
SURREY, BC – The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year. The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.

☀️💼 Explore summer student job opportunities 🎓

By Andy Schildhorn • March 1, 2026
The Township of Langley Traffic Cameras for up-to-date traffic information. Click here

💰 ‘Simply broken’: Falling home prices starting to bite Canada’s economy, says CIBC 🏦

By Andy Schildhorn • March 1, 2026
The economics of building new homes in Canada are now "simply broken," sparking a macroeconomic drag that CIBC economists warn is just beginning to take hold. 👉 Details Here
More Posts