First Time Home Buyers' Exemption Amounts

If you qualify for the first time home buyers' exemption, the amount of property transfer tax you pay depends on:

  1. the fair market value of the property
  2. the percentage of the property transfer eligible for the exemption
  3. when the the property was registered

The exemption amount is deducted from the amount of tax you would normally pay. Find out how much tax is payable if the property transfer is:

Note: If your property was registered on or before February 18, 2014, the amount of tax payable may be different. Find out the amount of your exemption.

100% Eligible

Below is the amount of tax payable if 100% of the property transfer is eligible for the First Time Home Buyer's Exemption.

Fair Market Value Exemption Amount Tax Payable
Less than $475,000.00 Full amount of tax normally due $0
$475,000.00 $7,500.00 $0.00
$476,000.00 $7,219.20 $300.80
$477,000.00 $6,936.80 $603.20
$478,000.00 $6,652.80 $907.20
$479,000.00 $6,367.20 $1,212.80
$480,000.00 $6,080.00 $1,520.00
$481,000.00 $5,791.20 $1,828.80
$482,000.00 $5,500.00 $2,140.00
$483,000.00 $5,208.80 $2,451.20
$484,000.00 $4,915.20 $2,764.80
$485,000.00 $4,620.00 $3,080.00
$486,000.00 $4,323.20 $3,396.80
$487,000.00 $4,024.80 $3,715.20
$488,000.00 $3,724.80 $4,035.20
$489,000.00 $3,423.20 $4,356.80
$490,000.00 $3,120.00 $4,680.00
$491,000.00 $2,815.20 $5,004.80
$492,000.00 $2,508.80 $5,331.20
$493,000.00 $2,200.80 $5,659.20
$494,000.00 $1,891.20 $5,988.80
$495,000.00 $1,580.00 $6,320.00
$496,000.00 $1,267.20 $6,652.80
$497,000.00 $952.80 $6,987.20
$498,000.00 $636.80 $7,323.20
$499,000.00 $319.20 $7,660.80
$500,000.00 $0 $8,000.00

50% Eligible 

If only part of the property transfer is eligible (e.g. not all of the purchasers qualify), the exemption amount will be reduced. The amount of the exemption is reduced by the percentage of the property transfer that isn't eligible.

Below is the amount of tax payable if 50% of the property transfer is eligible for the First Time Home Buyer's Exemption.

 

Fair Market Value Exemption Amount Tax Payable
$475,000.00 $3,750.00 $3,750.00
$476,000.00 $3,609.60 $3,910.40
$477,000.00 $3,468.40 $4,071.60
$478,000.00 $3,326.40 $4,233.60
$479,000.00 $3,183.60 $4.396.40
$480,000.00 $3,040.00 $4,560.00
$481,000.00 $2,895.60 $4,724.40
$482,000.00 $2,750.40 $4,889.60
$483,000.00 $2,604.40 $5,055.60
$484,000.00 $2,457.60 $5,222.40
$485,000.00 $2,310.00 $5,390.00
$486,000.00 $2,161.60 $5,558.40
$487,000.00 $2,012.40 $5,727.60
$488,000.00 $1,862.40 $5,897.60
$489,000.00 $1,711.60 $6,068.40
$490,000.00 $1,560.00 $6,240.00
$491,000.00 $1,407.60 $6,412.40
$492,000.00 $1,254.40 $6,585.60
$493,000.00 $1,100.40 $6,759.60
$494,000.00 $945.60 $6,934.40
$495,000.00 $790.00 $7,110.00
$496,000.00 $633.60 $7,286.40
$497,000.00 $476.40 $7,463.60
$498,000.00 $318.40 $7,641.60
$499,000.00 $159.60 $7,820.40
$500,000.00 $0 $8,000.00

Useful Contacts

Phone: 250-387-0604 (Victoria)
1-888-355-2700 (Toll-free in BC)

If you call toll-free, ask to be transferred to 250-387-0604.

Email: pttenq@gov.bc.ca

Useful Contacts

If you aren't sure what exemption amount you may qualify for, contact us or your legal professional.

Telephone: 250 387-0604 (Victoria)
Alternate
Telephone:
1 888 355-2700 (Toll-free in B.C., transfer to Victoria number)
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