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Property Transfer Tax Province of British Columbia Form

Property Transfer Tax Province of British Columbia Form

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hey everyone in this video we're going to touch on the announcements that came out with the provincial budget proposal more specifically the new housing measures um just a little refresher for those of you that don't know if you are a firsttime home buyer in British Columbia you do not need to pay property transfer tax if the home value is under 500,000 property transfer tax is 1% of the first 200,000 and then 2% on the remainder so if you were to purchase a $500,000 home you'd get hit with a tax of $2,000 on the first $200,000 6,000 on the 300,000 for a total of $8,000 in taxes first- time home buyers owner occupied purchase $500,000 less you do not need to pay it what's happening now is they're going to keep the same Grant of $8,000 but they're going to extend it to properties that are going to be valued up to $835,000 so that doesn't mean that you're not paying property transfer tax on the whole amount it just means tha

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