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**** PLEASE NOTE – This Calculator is for entertainment purposes only and cannot be relied upon for making actual GST calculations. *****

British Columbia Goods and Services Tax (GST) & Property Transfer Tax (PTT) & Rebate Calculator

In the vast majority of situations, Goods and Services Tax & Property Transfer Tax are payable on newly constructed properties in British Columbia.

This BC GST/PTT tax & rebate calculator is for getting a rough idea of the taxes that may be payable on the purchase of a new condo in Vancouver, BC, Canada.

How Much is Canada’s Goods and Services Tax on Properties in British Columbia?

Federal Goods and Services Tax on new properties is 5% in British Columbia and is payable when the property completes at the Land Titles Office.

Please note GST is only payable on new properties in BC.

GST is not payable on used homes in British Columbia.

There is a GST rebate available for new homes under $350,000 and a partial rebate available for homes between $350,000 and $450,000.  Please consult with an accountant for details on the rebates that may be available to you.

How Much is Property Transfer Tax in British Columbia?

BC’s Provincial Property Transfer Tax is payable on all property transactions in British Columbia at the following rates:

  • 1% on the first $200,000 of the purchase price
  • 2% on the fair market value between $200,000 and $2,000,000
  • 3% on the  fair market value above $2,000,000
  • 5% on the fair market value of the home above $3,000,000

*** Please note – for all and any taxation advice in relation to the purchase of a presale condo, new construction property, or pre-construction home, PLEASE consult an accountant. ***

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