First-time homebuyers are eligible to receive a full land transfer tax refund on homes purchased for up to $500,000. On homes purchased for between $500,00 - $525,000 the first-time homebuyer will be eligible for a partial refund.

Eligibility

You can qualify for the first-time homebuyer land transfer tax rebate if:

• You are Canadian citizens or permanent residents as determined by Immigration Canada
• You have lived in British Columbia for 12 consecutive months prior to the date the property is registered or have filed 2 income taxes in British Columbia in the 6 years before the property is registered
• You have never owned an interest in a principal residence anywhere in the world at anytime
• You have never received a first-time homebuyers' exemption or refund

Your property qualifies for the first-time homebuyer land transfer tax rebate if:

• The fair market value of the property is less than $500,000
• The land is (0.5) hectares or smaller
• The property will only be used as your primary residence

For more information, see the Government of British Columbia website.