Relief for some BC homebuyers

One of the largest costs of purchasing any property in BC is Property Transfer Tax (PTT). With very few and specific exceptions, this is an unavoidable part of the process to live in our beautiful province. The PTT is calculated as a percentage of the purchase price, with two exceptions which apply to some first time homebuyers, as well as the purchase of certain new construction properties. As usual, the government has been very slow to update their policies to reflect current day property values.