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Newly Built Home PTT Exemption

Also known as: Newly Built Home exemption · NBH exemption

A BC Property Transfer Tax exemption for a newly built home worth $1,100,000 or less, phasing out in a straight line to $1,150,000.

The Newly Built Home Exemption provides full PTT relief on the purchase of a newly constructed dwelling whose fair market value is at or under $1,100,000 (raised from $750,000 effective April 1, 2024). Between $1,100,000 and $1,150,000 the exemption phases out linearly; above $1,150,000 no exemption is available.

The buyer must be a Canadian citizen or permanent resident and must occupy the home as their principal residence within 92 days of registration. The exemption is mutually exclusive with the FTHB exemption: a buyer who qualifies for both must elect one. Many first-time buyers of new construction find the Newly Built exemption more valuable because of the higher cap.

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Property Transfer Tax — A provincial tax payable to the Province of British Columbia on the registered fair market value of any residential property title transfer, calculated using marginal-rate brackets.
First Time Home Buyers' PTT Exemption — A BC Property Transfer Tax exemption for qualifying first-time home buyers, available for homes up to $835,000 fair market value: full exemption (no PTT) to $500,000, $8,000 off from $500,000 to $835,000, linear phase-out $835,000–$860,000.
GST New Housing Rebate (BC) — A federal rebate on the 5% goods and services tax charged on a new home, and since 2026 there are two of them.
Closing Day (Completion) — Closing day, or completion, is when the buyer's lawyer registers the title transfer at the BC Land Title Office and the money reaches the seller.

@misc{bronsonjob-bc_ptt_newly_built_exemption,
  author       = {Job, Bronson},
  title        = {{BC Newly Built Home PTT exemption}},
  howpublished = {BC Real Estate Codex},
  year         = {2024},
  url          = {https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption},
  urldate      = {2026-11-04},
  note         = {Fact ID: bc.ptt.newly_built_exemption, version 2.}
}

APA — Press, journalism

Job, B. (2024). BC Newly Built Home PTT exemption. *BC Real Estate Codex*. Retrieved 2026-11-04, from https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption

Plain link — Slack, email, Twitter

BC Newly Built Home PTT exemption — Bronson Job PREC, BC Real Estate Codex (2026-11-04). https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption

Fact id: bc.ptt.newly_built_exemption · v2 · machine-readable: /api/v1/facts/by-id/bc.ptt.newly_built_exemption.json

License: This definition is licensed under CC BY 4.0. Cite as: "Newly Built Home PTT Exemption", BC Real Estate Glossary by Bronson Job, https://www.bronsonjob.com/glossary/newly-built-home-exemption.

Bronson Job PREC, REALTOR® at Momentum Realty Inc.. GVR Member #6015742 · FVREB Member #FJOBBR

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