BC省的地产转让税 Property Transfer Tax in BC
$0 – $200,000部分的1%
$200,000 – $2,000,000部分的2%
$2,000,000- $3,000,000部分的 3%
首次购房者的地产转让税豁免条件 First Time Home Buyer Property Transfer Tax Exemption
- 成交价格$500,000以下，土地面积小于 0.5 hectares (1.24 acres英亩)为全部减免
- 成交价格$500,000到$525,000， 土地面积大于 0.5 hectares (1.24 acres英亩)之间可享受部分减免
新房地产转让税豁免条件 Newly Built Home Property Transfer Tax Exemption
- 成交价格$750,000以下，土地面积小于 0.5 hectares (1.24 acres英亩)，地产转让税可以全部免除
- 成交价格$750,000到$800,000之间，土地面积大于 0.5 hectares (1.24 acres英亩)，地产转让税为部分减免
家庭成员地产转让税豁免 Family Property Transfer Tax Exemption
海外买家税 Foreigner Buyer’s Additional Property Transfer Tax
涵盖地区包括 Fraser Valley, Capital Regional District, Nanaimo Regional District, and Central Okanagan. Anmore, Belcarra, Bowen Island, Burnaby, Coquitlam, Delta, Langley City and Township, Lion’s Bay, Maple Ridge, New Westminster, North Vancouver City and District, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, Surrey, Vancouver, West Vancouver, White Rock and Electoral Area A.
How much does it cost and who pays it?
So in British Columbia, Canada, property transfer tax when you’re purchasing a property is 1% of the first 200,000 and then 2% on the remaining balance up to $2 million. Anything above $2 million is taxed at 3% and then there are some other unique individual situations. For example, if you’re a foreign buyer, in some areas of BC, you may be subject to 20% foreign buyers tax on your property purchase.
If it’s a residential property. In some situations there are some exemptions that you can take a look at. I’m going to pull those up here. There are government websites that will indicate to you which exemptions you may qualify for, so definitely take a look at those. If you’re a first time home buyer, then you may be able to qualify for an exemption on the property transfer tax.
Also, if you’re purchasing a brand new home in BC, up to $750,000 currently, as of today, which is March 30th, 2020 there is a new home buyers property transfer tax exemption program where you may be all eligible to have that exemption as well.
Now, who pays it? Depending on how you negotiate your contract, you may be able to have the seller pay for the property transfer tax, but that’s typically not how it’s going to work. The buyer is normally the one that can qualify for an exemption.
And the situations for that buyer may be different each and every single time. So it’s best if you look into the different options. And again, I am not a professional accountant or a tax specialist. So if you have any questions regarding taxes, please speak to your financial planner or your accountant so that you can get the right information.
Normally the exemptions for property transfer tax during the purchase are all the paperwork is done with your lawyer, so make sure you speak with your lawyer regarding what potential exemptions you may be able to qualify for and they can fill out the proper forms and have those submitted when you’re doing your completion for your property.
Thanks for tuning in. If you have any questions, feel free to send us a message and we’ll be happy to help you out with your property transaction in the near future. This has been JP and Luna and we look forward to seeing you on the next video.