Property Transfer Tax Return Guide

This guide explains how to complete the Property Transfer Tax Return (FIN 530 and FIN 579).

• Overview
• Completing the Property Transfer Tax Return
• Tips for Using the Electronic Return

Overview

In most cases, the property transfer tax return is completed and filed electronically by a legal professional. If a legal professional will not be filing the return, complete the Manual Property Transfer Tax Return (FIN 579) (PDF). This guide provides information for both the manual and electronic versions of the return.

The Land Title Office may refuse to register the property transfer if the return is not completed and the property transfer tax is not paid on the date the transfer is registered.

Note:  the Manual Property Transfer Tax Return (FIN 579) (PDF) now replaces the previous paper returns (General Return, Special Return and the First Time Home Buyer’s Return).

Additional Property Transfer Tax

Foreign entities or taxable trustees must complete and file the Additional Property Transfer Tax Return (FIN532) (PDF). We strongly recommend using a legal professional to file this return. Find out more about the additional property transfer tax and how to file the return.

Exemptions

The purchaser may qualify for a tax exemption when they purchase or gain an interest in a property. See Exemption Codes for a full list of exemptions and their corresponding codes.

We review all exemption claims to ensure the purchaser qualifies and meets all of the exemption requirements. If the exemption claim is denied or the correct amount of tax was not paid, we will issue a Notice of Assessment.

Completing the Property Transfer Tax Return

To help you complete the return, information for each section is provided below.  Depending on the type of transfer you are registering, you may not have to complete all sections.

• Part A – Purchaser/Transferee
• Part B – Contact Name and Mailing Address
• Part C – Vendor/Transferor Information
• Part D – Description of Property and Transfer
• Part E – Terms
• Part F – Allocation of Gross Purchase Price (non-residential properties only)
• Part G – Additional Information
• Part H – Proportional Principal Residence Information
• Part I – Property Transfer Tax Calculation
• Part J – Funds Transfer Authorization (Electronic FIN 530 only)
• Part K – First Time Home Buyers’ Declaration
• Part L - Certification

Part A – Purchaser/Transferee 

For each purchaser:

• Select whether the purchaser is:
  • An Individual
  • A Corporation
  • Other
• Indicate whether they're:
  • Claiming an exemption
  • Holding the property on behalf of a partnership
  • A trustee

Exemption Code

If you're claiming an exemption, select an exemption code from the drop down list for each purchaser. If you aren't claiming an exemption, select "None - No Exemption Claimed".

You can only select the ADMIN option in the drop down list if it is pre-approved by the Property Transfer Tax Administrator. Call 1 888 355-2700 to confirm if this option can be used for your transfer.

Transfers Involving a Trust and a Bare Trust

Trusts

When a transfer involves a trust, you must provide the name of the trust and additional information for each beneficiary. If you determine you are a trust excluded from the additional information disclosure, select from the drop down list the type of trust that applies.

If the beneficiary(ies) is an individual, enter:

• Last name and given name (enter all given names if applicable)
• Date of birth
• Citizenship information; if the purchaser is not a Canadian citizen or permanent resident of Canada, identify the foreign country or state of
• Social Insurance Number (SIN) if the purchaser is a Canadian citizen. If they are a foreign national with a temporary SIN, please provide it.
• 9-digit Individual Tax Number (ITN) if the purchaser is not a Canadian citizen, but files taxes in Canada, and has applied for, and received, a Canada Revenue Agency (CRA) ITN.
• Contact address

If the beneficiary(ies) is a corporation, you must provide:

• The legal corporation name as it appears on the incorporation certificate
• The 9-digit business number (BN) assigned by the Canada Revenue Agency (CRA)
• The mailing address of the corporation
• Information about each director of the corporation

Bare Trusts

A bare trust means the trustee can act only on instructions from the beneficiaries. If the transfer involves a bare trust, we recommend you use a legal professional and have them file the return electronically.

When the transfer involves a bare trust, you must provide us with information for both settlor and beneficiary of the trust.

If the settlor(s) or beneficiary(ies) is an individual, enter:

• Last name and given name (enter all given names if applicable)
• Date of birth
• Whether or not, on the date of registration, they are a Canadian citizen or permanent resident of Canada
• Foreign country or state of citizenship. If there is more than one, enter all that apply.
• Social Insurance Number (SIN) if the purchaser is a Canadian Citizen. If they are a foreign national with a temporary SIN, provide us with the SIN.
• 9-digit Individual Tax Number (ITN) if they aren’t a Canadian citizen, but file taxes in Canada, and applied for and received a Canada Revenue Agency (CRA) ITN
• Their mailing address

If the settlor(s) or beneficiary(ies) is a corporation, enter:

• The legal corporation name as it appears on the incorporation certificate
• The 9-digit business number (BN) assigned by the Canada Revenue Agency (CRA)
• The mailing address of the corporation
• Information about each director of the corporation

Director Information

You must provide us with the total number of directors of the corporation and the number of directors who are Canadian citizens or permanent residents of Canada.  Enter the following information for each director:

• If the director is a corporation:
  • The legal corporation name
  • The 9-digit business number (BN) assigned by the Canada Revenue Agency (CRA)
• If the director is an individual:
  • Last name and given names (enter all given names if applicable)
  • Date of birth
  • Foreign country or state of citizenship. If there is more than one, select all that apply.
  • Social Insurance Number (SIN) if the director is a Canadian Citizen or permanent resident of Canada. If the director is a foreign national but has a temporary SIN available, provide us with the SIN.
  • 9-digit Individual Tax Number (ITN) if the director is not a Canadian citizen, but files taxes in Canada, and has applied for and received a Canada Revenue Agency (CRA) ITN
  • Mailing address

When you file electronically, click on “Click to add directors” and complete all the fields for each director.

If you are filing manually, provide the required settlor/beneficiary and director information on a separate sheet and submit it with your return.

Part B - Contact Name and Mailing Address

Complete this section only if contact name and details are different than the purchaser’s contact information in Part A.

Part C - Vendor/Transferor Information

You must include vendor information when you complete the return. The individual certifying the tax return is responsible for providing this information and ensuring it is accurate to the best of their ability. Penalties may apply for providing false information, including not attempting to obtain and provide the requested information.

In most cases, the information requested in this section can be copied over from the Contract of Purchase and Sale. If this isn't the case, and you aren’t sure whose information you should be providing, contact us.

There may be situations where the purchaser hasn’t provided details on the vendor because it would result in an extreme safety issue to either party. If this is the case, you should contact us to discuss the situation. Make sure you add an attachment to the tax return to explain why the information wasn’t provided.

For each vendor, indicate if you made reasonable effort to confirm residency status and if the vendor is a resident or non-resident of Canada as defined by the Income Tax Act (Canada). The Canada Revenue Agency publication IC72-17R6 explains the purchaser’s responsibility to confirm the residency status of the vendor.

Note:  The definition of residency for income purposes differs from the definition of residency as permanent resident under the Property Transfer Tax Act. Find out more on the definition of permanent resident.

Also, provide the following for each vendor:

• If the vendor is an individual, last name and given name (provide all given names if applicable)
• If the vendor is a business or corporation, the legal corporation name
• Telephone number and complete address (enter the information we would use to contact the vendor after the property transfer is complete)

If there are more than two vendors or transferors, click on “Click to add additional vendor” and include all information mentioned above, including residency status. 

If you are filing manually, provide all the vendor information mentioned above on a separate sheet and submit it with your return.

Part D – Description of Property and Transfer

Complete this section by providing the following information about the property:

D-1 - The date the property was transferred

D-2 - The date the legal agreement was signed by the purchaser (interim agreement or contract)

D-3 - Whether the property is vacant land or land with improvements

D-4 - The property type assigned by BC Assessment

D-5 - The type of transaction applicable to the transfer

D-6 - The parcel identifier(s) (PID)

D-7 - The legal description of the property found on the legal title

D-8 - The civic address, or where the property is located, and the municipality
Note: make sure you identify the correct municipality as property transfer tax may apply differently depending on the property location.

D-9 - The total percentage interest acquired by all purchasers

Part E - Terms

Depending on the type of transfer you are registering, you may not have to complete this section. If required, you have to provide detailed financial information for the purchase/transfer.

Part F – Allocation of Gross Purchase Price (non-residential properties only)

Complete this section if the transfer involves a non-residential property and you are allocating costs for the purpose of calculating property transfer tax.

Part G – Additional Information

If you are claiming an exemption, you may need to provide information in this section to support your claim.

For example, you may need to provide your relationship to the transferor/transferee for some exemptions, such as codes 05, 06, 41 and 42, which apply only to related individuals. 

Here is some additional information to help you complete some of these fields:

• Lease term: The length of the lease agreement, including any renewals

• A Charitable Registration Number: A registration number issued by the Canada Revenue Agency to a registered charity, such as a charitable organization, public foundation or private foundation.

• Advance Tax Ruling Number: When we respond to an advanced tax ruling (ATR) request before the transfer is registered with the Land Title Office, we include an ATR number in the letter.

• Jurisdiction and Section is required for transfers involving amalgamations  

• Order in Council Number (OIC) is required only if the transfer involves an Order in Council

• Separation Agreement or Court Order: If you claim exemption code 15, attach a copy of the signed separation agreement, court order or divorce decree

Part H – Proportional Principal Residence Information

Complete this section if you are claiming an exemption that involves the transfer of a principal residence and not all the improvements are residential, the land exceeds 0.5 hectares (1.24 acres) in size, or the property is not fully classified by BC Assessment as residential.  

If the land exceeds 0.5 hectares in size, the exemption only applies to a 0.5 hectare portion of the land. This portion is calculated by dividing the fair market value of the bare land by the total area (in hectares) and multiplying the result by 0.5 hectares (H-8).

If you are filing manually, you need to convert the land size to hectares:

• To convert square feet to hectares, multiply by 0.0000093
• To convert acres to hectares, divide by 2.471

If the improvements (buildings) are not all classified as residential, the exemption only applies to the fair market value of the buildings classified as residential (H-7).

To qualify as a principal residence, the improvements on the property must be designed to accommodate three or fewer families.

Note: If you're filing electronically and select exemption code 12 -trustee/bankruptcy, Part H is automatically activated and must be completed. If the transfer qualifies for a full exemption, you must select NO on line H-1 (Is the property larger than 0.5 hectares?) and YES on line H-2 (Are the improvements entirely residential?) in order to by-pass this section.  If you have any questions, contact us.

Part I – Property Transfer Tax Calculation

I–1 & I–2: Re-filing a Return

If you previously filed a return and the transfer was cancelled or withdrawn, complete fields 1 & 2 to re-file the return.

1. Check the YES box. If tax was paid on the previously filed return, you can re-file the return without paying the tax again.
2. Enter the land title registration number. This is the title number of the transfer that was previously cancelled or withdrawn (e.g. CA#######).

I-3: Gross Purchase Price and Fair Market Value

If there is a difference between the gross purchase price and the fair market value of the property, use the drop down box to select the reason for the difference in values. If the reason selected is OTHER, provide a brief explanation. 

I-4: Fair Market Value (FMV)

You must declare 100% of the property’s value, not the value of the interest percentage being transferred. 

The electronic return automatically calculates the taxable amount by using the full FMV of the property reported in this field, and the percentage of the property being transferred reported in D-9.

If you are filing manually, you must manually enter all other values in Section I. See calculation examples to help you complete the remaining fields.

I-5: Gross Property Transfer Tax Amount

The electronic return automatically calculates the taxable amount by applying the following property transfer tax rates:

• 1% on the first $200,000
• 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000
• 3% on the portion of the fair market value greater than $2,000,000

If you are filing manually, use the property transfer tax calculator to calculate the tax payable and enter that amount.

I-6: Property Transfer Tax Exemption Amount

This is the total exemption amount allowed for this transfer. It represents the entire transaction, not individual purchasers. 

If you are completing the return manually and more than one purchaser qualifies for an exemption, enter the combined exemption amounts.

I-7: Basic Property Transfer Tax Amount

The basic property transfer amount is calculated by subtracting the exemption amount (I-6) from the gross property transfer tax amount (I-5).

If you are filing electronically, this field will automatically calculate.

If you are filing manually, you must calculate (I-5 minus I-6) and enter this amount on line I-7.

1-8: PTT Amount on Residential Property Greater Than $3,000,000

If the property is residential, calculate a further 2% tax on the portion of the fair market value greater than $3,000,000 and enter that amount here. 

Use our Property Transfer Tax Calculator for Residential Property over $3,000,000 (FIN 536) (PDF) to help you determine the tax owing.

If you’re filing electronically, this field is required if you enter a fair market value over $3,000,000 on line I-4 and select residential as the property type. If the further 2% tax doesn’t apply to the transfer (for example the transfer is fully exempt), enter .001 (this will round to 0.00 when you tab out of the field).

 If you file electronically, you must attach the Property Transfer Tax Calculator for Residential Property over $3,000,000 (FIN 536) (PDF).  Find out how to add attachments.

If you file a manual Property Transfer Tax Return (FIN579), attach a copy of the Property Transfer Tax Calculator for Residential Property over $3,000,000 (FIN 536) (PDF) to the return.

I-9: Additional Property Transfer Tax Amount

This is the amount from line E-13 on the Additional Property Tax Return (FIN 532) (PDF),  a mandatory return that must be submitted with the Property Transfer Tax Return if the purchaser is a foreign entity or taxable trustee, even if the transfer is exempt from the additional property transfer tax.

If the purchaser is required to pay the additional property transfer tax, enter the amount on line I-9. If the property transfer qualifies for an exemption from the additional property transfer tax, enter .001.

If you file electronically, you must attach the Additional Property Transfer Tax Return (FIN 532) to the Property Transfer Tax Return (FIN 530). Find out how to add attachments.

If you file a manual Property Transfer Tax Return (FIN579), a copy of the Additional Property Transfer Tax Return (FIN532) must be emailed to attenq@gov.bc.ca.

I-10: Total Property Transfer Tax Payable

The total property transfer tax amount is the sum of the basic PTT amount (I-7), the PTT amount on residential property greater than $3,000,000 (I-8) and the additional property transfer tax (I-9) amounts.

If you are filing electronically, this field will automatically populate.

If you are filing manually, you must calculate (I-7 plus I-8 plus I-9) and enter this amount on line I-10.

I-11: Tax Paid

Tax paid is the same value as the total property transfer tax payable.

If you are filing electronically, this field will automatically populate.

If you are filing manually, you must enter the amount from line I-10 on line I-11.

Find out more about withdrawn or cancelled transfers.

Calculation Examples

Part J – Funds Transfer Authorization

This section is available only on the electronic Property Transfer Tax Return (FIN 530).

Do not check "Payment to be made by journal voucher" unless you are a Provincial ministry and will be making a payment using a journal voucher.

Part K – First Time Home Buyers’ Declaration

Complete this section only if a purchaser is claiming the First Time Home Buyers’ exemption. Each purchaser claiming the First Time Home Buyers’ exemption must answer all the questions in the declaration.  Refer to the First Time Home Buyers’ Guide (PDF) for more information.

Part L - Certification

The Property Transfer Tax Return must be signed by all purchaser(s) or transferee(s). When signing the return, each purchaser must ensure the information provided to the legal professional during the completion of the return is accurate.

Penalties apply if the return is purposefully completed with incorrect or misleading information.

You must enter the purchaser’s phone number beside the signature line, not their legal representative’s contact number.

Tips For Using the Electronic Return

To complete the return, you must use one of the following versions of Adobe:

• Acrobat Pro/Standard DC 2015 Release (Classic)
• Acrobat Pro/Standard DC Continuous Release
• Acrobat Pro/Standard 2017

When you file electronically, you must make a selection from the exemptions drop down list. If you aren’t claiming an exemption, select “None - No Exemption Claimed”.  The form will automatically change based on your selection.

If a field is not required it will have a thin grey border and you can’t enter any information.

Note: When applicable, the completed Additional Property Transfer Tax Return (FIN532) (PDF) and/or the Property Transfer Tax Calculator for Residential Property over $3,000,000 (FIN 536) (PDF) must be attached to the return.

If you file electronically, find out:

• How to add additional pages
• How to attach documents
• Re-file a return for a withdrawn or cancelled transfer

Additional Pages 

You may add additional pages to the return if there are more than two purchasers in Part A or vendors in Part C. To add more purchasers, click on the yellow button “Click to add additional purchasers’”.  To add more vendors, click on yellow button ‘Click to add additional vendor”.

If there is more than one parcel identifier (PID) in Part D, click the yellow button “click to add additional property information”.

To return to the main form, use the red arrow in the top left corner.

Add Attachment(s)

To add attachments to your Property Transfer Tax Return, click on the “Tools” menu, then:

1. Click on “Organize Pages”.  This prompts you to insert a Permissions Password.
2. Click on “Cancel” to bypass the requirement to include a  password
3. Click on “Insert”
4. Click on “From File”
5. Select your saved file
6. Select “Last” for the page
7. Select “Ok”

Re-File 

If you withdraw a transfer, you can re-file the Property Transfer Tax Return electronically without paying the tax again.

To re-file the return:

1. Fill in the return
2. Select “Yes” in  (I-1) to identify that this return is a resubmission of a withdrawn or cancelled transfer
3. Provide the Land Title Registration Number in (I-2)
4. Skip to (I-4) and enter the fair market value again of the whole property and not only for the interest transferring

Skip to section (I-11), and enter the value you are paying. If the correct tax amount was previously paid, enter zero (0.00).