Pre-Sold Strata Unit
When you purchase a condo unit on the open market well in advance of the completion of the building, you will generally pay property transfer tax on the total amount you paid to acquire the property. The total amount includes any money paid for:
- upgrades or additions, or
- any other premium for assignment of a written agreement
You may transfer the right to purchase the property to a related individual (doesn't include brothers and sisters) before the property is registered at the Land Title Office without affecting the taxable amount.
This doesn't include bare land stratas.
If you’re a foreign national or foreign corporation and the pre-sold strata unit is located in the Greater Vancouver Regional District, you pay the additional property transfer tax in addition to the property transfer tax.