Calculate your BC Property Transfer Tax (PTT), GST, and exemptions in seconds. Find out exactly what you'll pay at completion on a home in Mission, Abbotsford, Chilliwack, Langley, or anywhere in British Columbia.
Updated for 2026 with the BC First-Time Home Buyer exemption, Newly Built Home exemption, and the new $50,000 federal GST rebate for first-time buyers (effective March 2026).
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You'll Pay At Completion
$12,000
PTT only — resale home
Breakdown
Disclaimer: This calculator provides estimates only based on standard BC PTT rates and announced 2026 federal programs. Your actual tax may differ based on residency status, partial exemption rules, foreign buyer rules, lot size (only properties under 0.5 hectares qualify for the FTHB exemption), and other factors. Always confirm with your lawyer or notary before completion.
Have Questions About Your Specific Numbers?
I'm Alison Stebbings, a Fraser Valley Realtor with 16+ years helping BC home buyers navigate Property Transfer Tax, GST, and exemptions. Let's talk about your specific situation — no pressure, no obligation.
A one-time tax paid by the buyer at completion when property changes ownership in BC. It's calculated on a tiered scale: 1% on the first $200,000, 2% on $200K–$2M, 3% on $2M–$3M, plus an additional 2% on the portion above $3M. On a $700,000 home you'll pay $12,000 in PTT (unless exempt).
Who qualifies for the BC First-Time Home Buyer PTT exemption?
You must be a Canadian citizen or permanent resident, have lived in BC for 12+ months immediately before registration (or filed at least 2 BC tax returns in the past 6 years), and have never owned a principal residence anywhere in the world. The home must be 0.5 hectares or smaller and become your principal residence within 92 days. Full exemption to $500K, partial to $860K, max savings $8,000.
How does the new $50,000 GST rebate work?
Royal Assent on March 12, 2026. First-time home buyers (Canadian citizens or PRs, 18+) purchasing a newly built or substantially renovated home priced at $1 million or less can recover the full 5% federal GST — up to $50,000. Stacks with the BC PTT first-time buyer exemption, FHSA, and HBP.
What is the Newly Built Home PTT exemption?
Separate from the first-time buyer exemption. Any buyer of a newly built home priced under $1.1 million may qualify for full PTT exemption, with partial exemption up to $1.15 million. Helpful for repeat buyers purchasing new construction in Mission, Abbotsford, Chilliwack, or anywhere else in BC.
Do I have to pay GST when buying a home in BC?
Only on new construction or substantially renovated homes. Resale homes are exempt. GST is 5%. First-time buyers may now recover up to $50,000 of GST on new builds under $1M (federal rebate, March 2026). The traditional GST New Housing Rebate also exists for homes up to $450K (sliding scale, 36% of GST paid).
Is there a foreign buyer tax in BC?
Yes. The BC Additional Property Transfer Tax adds 20% PTT on residential purchases by foreign nationals or foreign corporations in designated taxable areas (Metro Vancouver, Capital Region, Fraser Valley, Central Okanagan, Nanaimo). Plus the federal Foreign Buyer Ban remains in effect through January 1, 2027 with limited exceptions.
What other closing costs should I budget for?
Beyond PTT, plan for 1.5%–4% of purchase price total: lawyer/notary fees (~$1,200), home inspection ($500–$1,200), title insurance (~$300), property tax adjustments, home insurance, mortgage default insurance (CMHC if <20% down), and GST on new builds. On a $700,000 resale home, expect roughly $14,000–$18,000 in total closing costs including PTT.
