BC Government reduces PTT burden for first-time buyers
February 19th, 2014
Government reduces tax burden on first-time buyers
The government of BC recently announced changes to the limits for the First Time Home Buyer Exemption program. Qualified buyers may save on all or part of the Property Transfer Tax (PTT).The PTT is calculated at a rate of one per cent on the first $200,000 and two per cent on the remaining value of the purchase price. Prior to the change, th ...