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.
Related terms
- 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.
See also
Use any of these formats. Codex content is licensed under CC BY 4.0 — attribution required.
@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 = {2026-08-24},
note = {Fact ID: bc.ptt.newly_built_exemption, version 2.}
}Job, B. (2024). BC Newly Built Home PTT exemption. *BC Real Estate Codex*. Retrieved 2026-08-24, from https://www.bronsonjob.com/codex#bc.ptt.newly_built_exemption
BC Newly Built Home PTT exemption — Bronson Job PREC, BC Real Estate Codex (2026-08-24). 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
Verified sources (1)· re-verified 2026-08-24Click to expand
Every claim on this page is sourced to a primary government, regulator, or industry-association URL. We re-verify quarterly; the verification dates below show when each source was last confirmed against the live government page.
- BC Governmentretrieved 2026-08-24Newly Built Home Exemptionhttps://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/exemptions/newly-built-home-exemption
bc.ptt.newly_built_exemption · v2View in Codex →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.
