Property transfer tax exemptions

Last updated on April 9, 2024

When you purchase or gain an interest in a property, there are many ways you may qualify to reduce the amount of tax you need to pay.

Learn more below about the available programs and the types of transfer that may qualify for an exemption.

First time home buyers’ program

If you’re purchasing your first home, you may qualify to reduce or eliminate the amount of property transfer tax you pay.

Purpose-built rental exemption

Effective January 1, 2024, if you’re purchasing a new qualifying purpose-built rental building, you may qualify for an exemption from the further 2% property transfer tax on the amount of the residential property value that exceeds $3,000,000.

Newly built home exemption

If you’re purchasing a newly built home, you may qualify for a property transfer tax exemption. 

Family exemptions

Other exemptions