2014 Changes to BC’s Property Transfer Tax

Good afternoon,

In case you have missed it, the provincial government recently announced changes to the exemption limits for the First Time Home Buyer exemption.

Prior to the change, the First Time Home Buyer Exemption was capped in the Lower Mainland at $425,000.00 and there was a sliding scale between $425,000.00 and $450,000.00. The new cap effective Feb. 19, 2014 is $475,000.00 and there is a sliding scale between $475,000.00 and $500,000.00.

Related links:
http://helpreducetheptt.ca
Government of BC – Property Transfer Tax

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