Property Transfer Tax
BC calls its land transfer tax the Property Transfer Tax (PTT), calculated on marginal brackets that rise with purchase price, with an additional bracket on the portion of very high-value residential purchases. First-time buyers may qualify for a full or partial exemption up to certain price thresholds — see our land transfer tax calculator for a full breakdown of the current brackets and exemption.
Notaries or lawyers — your choice
Unlike Ontario, where only lawyers handle real estate closings, BC allows either a lawyer or a licensed notary public to complete your transaction. Notaries typically handle straightforward residential closings at a lower cost than lawyers, though a lawyer is generally advisable for anything more complex.
Additional taxes to be aware of
BC applies an Additional Property Transfer Tax on residential purchases by foreign nationals and certain corporations in specific regions of the province, on top of the standard PTT. Separately, some municipalities (notably Vancouver) are subject to a Speculation and Vacancy Tax and/or an Empty Homes Tax aimed at properties that sit unoccupied — relevant if you're buying as an investment rather than a primary residence.
These additional taxes change more frequently than the base PTT structure — if either could apply to your purchase, confirm current rates and boundaries with a real estate lawyer or notary before closing.