Property Purchase Tax
How do you calculate it?
Tuesday, January 2, 2007
The following information should help you calculate property purchase tax for purchases in British Columbia. Please remember we provide this for informational purposes only and we recommend that you speak with us or your lawyer for actual costs once there is an accepted offer on a property.
To calculate the total British Columbia Property Purchase Tax for residential properties, add the following together:
- 1% on the first $200,000.00 of the purchase price
- 2% of the amount in excess of $200,000.00