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.
Use this form to find out the amount of Goods and Services Tax (GST) on Real Estate in British Columbia:
Use this form to find out the amount of BC's Property Transfer Tax required for the home you are purchasing:
**** DISCLAIMER – These calculators are for budgeting and educational purposes only.
They should not be relied upon for making final calculations. *****
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 when buying a presale condo GST apartment tax.
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:
GST & BC Land Transfer Tax Calculator
- GST rate for new homes in BC: The GST rate is typically 5% for new home purchases in Canada, including BC. Rebates may be available depending on the purchase price and if the home will be your primary residence.
- Calculating property tax for a condo: Property tax is determined by the assessed value of the condo and the municipal tax rate. Specific calculators can provide estimates based on these factors.
- Rebate on new home tax: Eligibility for rebates on GST or PTT depends on factors like the home being your primary residence and the purchase price. There are specific criteria and thresholds for these rebates.
- Benefits of the presale calculator: A presale calculator can help estimate the total cost of purchasing a presale condo, including down payments, taxes, and potential rebates.
- Taxes when purchasing an apartment: Besides GST and PTT, consider ongoing property taxes, which are based on the property’s assessed value and the local tax rate.
*** 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. ***