British Columbia foreign buyer taxįor homebuyers who are neither Canadian citizens nor permanent residents, British Columbia imposes an additional 20% tax on top of the standard property transfer tax for residential properties in the following regions of the province: You should also check out our federal first-time homebuyers' programs page, as you can benefit from federal programs in addition to those offered by the province. For more information on home buyer eligibility and property eligibility, visit our British Columbia land transfer tax rebate page. For homes purchased for $426,000 - $450,000, a partial refund is available. Land transfer tax rebate in British Columbiaįirst-time homebuyers in British Columbia are eligible for a full land transfer tax refund on homes $425,000 or less. See Ratehub.ca’s British Columbia land transfer tax page for more information on tax rates and calculations. The LTT’s marginal tax rate varies from 1.0% to 2.0% of the property’s value depending on its purchase price. The land transfer tax in British Columbia is calculated as a percentage of the house’s value, estimated using its purchase price. Land transfer tax (LTT) in British Columbia These mortgage rates can also be found in the British Columbia mortgage calculator above. Ratehub.ca has a comprehensive list of the best mortgage rates in British Columbia to ensure you get the best rates for your area. Some mortgage brokers and lenders charge different rates in different provinces. There is also a land transfer tax rebate available to first-time homebuyers in BC. In British Columbia, homebuyers must obtain British Columbia’s mortgage rates and cover BC’s land transfer tax. Many mortgage taxes and fees are set at the provincial level. Regulations, taxes and fees specific to British Columbia Visit our CMHC insurance page to learn more.
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